- Apr 15, 2007
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I thought the entire point of buying GM and Chrysler was to mitigate the damage that would occur if the companies were liquidated, specifically the cascade effect liquidation would have on part suppliers.
Obama did say that the government would honor warranties on cars sold but that is going to be hard without any parts.
http://www.google.com/hostedne...ySz0NoLKza9GwD98S103O2The Obama administration has turned down a request by auto suppliers for up to $10 billion in additional federal aid to help the parts companies deal with the bankruptcies of General Motors and Chrysler.
Obama did say that the government would honor warranties on cars sold but that is going to be hard without any parts.