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Friday, December 12, 2008 12:00 AM

The Republican economic recovery plan

When all else fails, declare war on the working class.
Andrew Leonard

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  • Friday, December 12, 2008 07:51 AM

    Making Billions?

    What I saw GM do was pre-sell a bunch of business with 6 year, no interest, loans. What that gave them was a bubble, a slump on the downside, and an ongoing interest cost.

    How many low down, zero interest, loans do you suppose are defaulting right now?

    Management and the unions built themselves into a catch-22. If that wasn't true, they would have had (a) genuine profits, (b) a sustainable model, and (c) growing market share, before the credit crisis.

    —odograph Read odograph's other letters

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