It's official. I saw a brief appearance by House Speaker Frisco Nan yesterday in which she stated that bankruptcy for the Detroit auto makers 'is not an option.'
Gee, does she share Rick Wagoner's speech writer?
Seriously, what else would you expect? First, Nan is hardly someone who would have any idea of how business is really managed in America. She's a pol.
Second, to entertain the notion that an American industrial failure should naturally consider bankruptcy is to cheat her union backers out of their lush benefits.
Isn't it ironic that the normally business-hating, antagonistic Nan has finally found a private corporation she can love?
But only one from whom her union pals at the UAW have a huge outstanding tab for promised pensions, benefits and 'job bank' payments. She can't afford to let those be unilaterally reduced in a Chapter 11 filing by Ford, GM or Chrysler, now, can she?
My, what it takes to make bedfellows of an ultra-liberal Democratic Speaker and the CEO of the nation's formerly 'first company,' GM.
Sad and disgusting, really.
Too bad these two knuckleheads can't just let natural forces play out and put GM into a Chapter 11 filing, ending this ridiculous, nightmarish spectacle.
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