Thursday, December 18, 2008

Managed bankruptcy.. what is that

Good Morning Flint!
12/19/08 Terry Bankert

What a cruel joke.

Bush devastated the America middle class while his base, the republican economic elite gorge, themselves on free markets, NAFTA and globalization.

He teases the UAW and Big Three salaried workers and stockholders with hope after his Republicans in the Senate pull the plug on the Senate bailout.

Bush lets the press leak false hopes of a Presidential Economic Pardon and Federal loan for the Darwinian failures that control the now not so Big Three Auto makers, GM, Ford and Chrysler.

Then he announces the drop of the Other Shoe!

OOOpsie daisy,...just did not hear me right.

You get a controlled bankruptcy. Just what is a controlled bankruptcy. Is it a hanging with a bungee cord?

The White Guys House said on Thursday it is considering/told to support the option of an "orderly" bankruptcy as it weighs/abandons aid for U.S. automakers.

The cowardly move by the JR. Bush force fed uncertainty into the politically charged feeding frenzy over a bailout for General Motors Corp and Chrysler now reaching a forgone conclusion of Bankruptcy after a month of BS.

The Bush managed bankruptcy demands bloodletting by stakeholders including management, labor and dealers, as part of not so large aid package expected to be announced as early as Friday.

Meaningless, Bush is turning his back as did the Senate deal busters and will let the industrial might of America slip away.

Bush just does not want a "disorderly bankruptcy" which might harm other markets.

What is he going to do keep it a secret?

Bush never thought U.S. automakers can become viable.

Bush says why put more money down a rat hole.

Bush missed the point “Both Chrysler and GM and their political allies have said bankruptcy is not an option since it would risk pushing their suppliers to collapse, driving dealers out of business and compounding job losses at a time when the U.S. economy is already mired in recession.” 1 in 20 jobs in American are touched by the auto industry.

“Bankruptcy, whether it's structured or not, would destroy demand for that company's vehicles and put dealers out of business," Annette Sykora who heads the National Automobile Dealers Association said in a statement.”

American auto companies will die as will the economic lives of their share holders and employees and the same will happen to automobile suppliers.

Financial deregulation and not defending our economic boarders is a planned event by the Republican economic elite, their money left a long time ago.

Economic traitors one and all led by the lesser Bush. “GM shares closed down 71 cents, or 16.3 percent, at $3.66. Ford shares ended down 30 cents, or 9.6 percent, at $2.84, also on the NYSE.” We have paid that for a gallon of gas.

Great human pain is coming.

Our society in will continue to reorganize its self.

There are economic cemeteries in America. Once thriving locals whose industry shifted away and change was not managed or possible.

Will Flint become one of these cemeteries? Heck no...just what are your leaders doing?

Posted here by Terry Bankert -

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Community Christmas Party, lawyer sponsored.

Good Morning Flint!
Terry Bankert


Lawyers from the Genesee County Bar Association and their families gave a Christmas cheer to hundreds of children and fed about 1,000 people at its 16th annual Community Holiday Dinner at the Masonic Temple, 755 S. Saginaw St. in downtown Flint.

A special Thank You to Attorney Brian Barkey And Ramona Sain Director for their personal efforts and the hundreds of volunteers.

The Flint Jopurnal wrote “Lawyers, usually in business suits arguing law, were in aprons serving a buffet line of chicken, ham and salad.” "Part of being a lawyer is giving back to the community," said Genesee County Prosecutor David Leyton, the president of the bar association. "This is directly assisting people who need help."

I took some photos and videos, they follow.



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Terry Bankert
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