But, unfortunately, despite all the money spent, lent and guaranteed, these companies are going bankrupt anyhow.
The prime example: After throwing billions at failed automakers last December, Chrysler is now just days away from bankruptcy, and General Motors could be close behind.
Under an agreement with the U.S. government, Chrysler must restructure its debt no later than next Friday or file for bankruptcy. But the company’s creditors are stubbornly refusing to accept stock in the failed company in lieu of payment.
Meanwhile, an eerily similar scene is being acted out at General Motors: Despite the $13.4 billion Washington gave the company last December, GM is now facing a June 1 deadline to restructure or to file for Chapter 11.
Think of it: In the next 37 days, it’s likely that not just one, but TWO of our nation’s largest companies ... two of our largest employers ... will go broke despite the biggest auto industry bailouts in history!
The lesson is clear ...
These Bailouts Don’t Save Failed Companies.
But They Do BANKRUPT Our Children!
They just add dramatically to our debt burden for generations to come, prolonging the agony for all concerned.
This really stresses us out. To de-stress click here
If you do not de-stress it may cause depression or mood swing or insomia
However, during turbulent times like this is better to trade than to invest.
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When the going gets tough the tough gets going. Learn and stay ahead of others.
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