Really, I’m not particularly fond of the auto bailout, because it’s clear that what’s really needed is for these companies to go Chapter 11, just like anyone else would. It’s equally clear that the reason it’s “unthinkable” to the House Leadership that GM et al go Chapter 11 is that they know the UAW would then have to renegotiate their contracts, and the UAW doesn’t want that.
So, okay, here’s an idea. Instead of the various Senate Amendments they’re trying that are clearly and openly aimed at the unions, how about a simple technical amendment that says each firm gets a “czar” who is a reired bankrupcy judge, and who has the same powers a bankruptcy judge has?
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