Do conservatives understand what bankruptcy is?
March 31st, 2009 at 12:47pm Pat Cunningham
 
 It’s as if this guy was reading my mind (or perhaps my blog):
Of course if you ask any of these people [critics of President Obama’s approach] what should be done about GM and Chrysler, their answer is, inevitably, that they think the companies should be allowed to go bankrupt. But that just raises a more basic question: Do conservatives understand what bankruptcy is?
 Read the whole thing HERE.
 UPDATE: What’s this? Mitt Romney AGREES with Obama’s approach to the auto industry and admires the president’s “backbone”?
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6 Comments Add your own
1. Steelhawk | March 31st, 2009 at 1:08 pm
So which is it? Do you agree with letting them go Bankrupt or not. But an answer to your question would be \"Conservatives don\’t need to understand Bankruptcy, Conservatives know how to earn money and keep it. Liberals tax and steel, then spend into oblivion til bankruptcy is the only answer. Hey Obama voters, just want to say “Thanks again.”
2. Pat Cunningham | March 31st, 2009 at 1:28 pm
Steelhawk has come up with the funniest line of the year: “Conservatives know how to earn money and keep it.”
Would that include the conservatives at Wall Street banks? (And don’t tell me liberals were running those banks.)
Would that include UBS, the troubled Swedish bank where the conservative former U.S. Sen. Phil Gramm was vice-chairman?
You remember Phil Gramm, don’t you? He’s the guy who said indications last year of an economic collapse were just complaints from “whiners.” He’s the guy who spearheaded congressional efforts to deregulate banks, thereby setting the stage for the current crisis.
Have you got any more funny lines, Steelhawk? You’re a great comedian. You don’t know anything about economics or politics, but you’re a funny guy.
3. Nelson | March 31st, 2009 at 2:30 pm
Bankruptcy is an issue that pertains to money and finances.
Conservatives have limited knowledge regarding money and finances. (John McCain comes to mind).
Therefore, the answer to your question is no.
4. hokumboy | March 31st, 2009 at 6:19 pm
Whatever happened to the concept I was raised with? That bankruptcy was on a par with patricide and would stain one’s character to the grave and beyond. Now, it’s touted as a right of all and as acceptable as a library fine.
Liberal? Conservative? It doesn’t matter. We all seem to have lost our way.
5. Pat Cunningham | March 31st, 2009 at 6:55 pm
Hoke: I know you didn’t intend this, but you’ve shamed me into full disclosure. I once went through personal bankruptcy. It was an awful experience, but it’s well behind me. I think the laws have changed since then, and it’s not as easy now (not that it was a piece of cake then). It makes you feel like you’re wearing a scarlet letter — the letter “B.” But, of course, my case has nothing to do with the corporate bankruptcies we’re discussing here.
6. DingDong | April 1st, 2009 at 9:42 am
Chapter 11 bankruptcy is much different than the chapter 7 bankruptcy, you still have to pay your creditors. But we should not have a President presiding over the bankruptcy. This is not the job of the executive branch of government. Lots of successful companies have gone though and come out of bankruptcy.
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