Bankruptcy Ust
Why did Pres. Bush press secty. state that ‘Bankruptcy was an option for automakers?’?
Is he even more out of his mind than we thought? He ust stated a few days ago that he did NOT want to upset the stockmarket and the statement today sent the market plunging!
Let me start by stating the obvious. The answer I am giving you is only my opinion. None of us know exactly why.
The first four answers focus on why the person writing the response think bankruptcy should be an option, but you asked why Bush’s Press Secretary made the statement.
I think the statement was made for two specific purposes.
(1) President Bush wants some political cover. Several conservative Republicans are fiercely anti-union. He wants to appear to be trying to side with them.
(2) The statement is also useful as a negotiating tactic. If you can scare the different parties in the negotiation into thinking that you will create a lose-lose situation you are more likely to get them to agree with your demands.
I take strong exception to people trying to put most of the blame on the unions. I am not saying the unions are blameless, just that their share of the blame pie is a lot smaller than some people believe. I won’t go into details since that discussion is not responsive to the question you asked.
For what its worth, I do not think President Bush will let them go bankrupt before he leaves office. He is too concerned about his legacy. JMHO.
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