Comments on: Put the Breaks on Already! http://blogs.journalism.cuny.edu/wallstreet/2008/12/13/put-the-breaks-on-already/ A student perspective on the financial crisis sweeping Wall Street Tue, 30 Dec 2008 21:30:47 -0800 http://wordpress.org/?v=2.8.2 hourly 1 By: matthew.townsend http://blogs.journalism.cuny.edu/wallstreet/2008/12/13/put-the-breaks-on-already/#comment-139 matthew.townsend Mon, 15 Dec 2008 02:27:01 +0000 http://blogs.journalism.cuny.edu/wallstreet/?p=602#comment-139 Why is AIG more important than GM? And many people believe that GM couldn't get through Ch. 11 because the financing wouldn't be there and would be forced into liquidation, which would cause the loss of more than 1 million jobs. Mark Zandy, a top economist, spoke to our companies class last week and said that he thought $15 billion was a bargain for taxpayers when you consider all the tax revenue that would be lost if more than $1 million jobs were taken out of the economy. Also, the financial firms that received money thus far were also poorly run - it's just that their mismanagement led to huge profits for a while, but came crashing down like a house of cards. Why is AIG more important than GM?

And many people believe that GM couldn’t get through Ch. 11 because the financing wouldn’t be there and would be forced into liquidation, which would cause the loss of more than 1 million jobs.

Mark Zandy, a top economist, spoke to our companies class last week and said that he thought $15 billion was a bargain for taxpayers when you consider all the tax revenue that would be lost if more than $1 million jobs were taken out of the economy.

Also, the financial firms that received money thus far were also poorly run – it’s just that their mismanagement led to huge profits for a while, but came crashing down like a house of cards.

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