If GM goes bankrupt, what happens to me?
I understand, I guess, why the financial bailout was necessary. If I understand the situation correctly, if nothing was done it would basically mean “nobody knows what the hell would happen besides all of the sudden the US dollar becomes worthless, not just figuratively, but legitimately worthless.”
Nobody wants to see that happen, so, okay, help them out. (I’m angry at what I’m hearing about how there’s no oversight and the money has been largely used up already, but what am I going to do about that from my cubicle?)
Anyway, WHY ON EARTH would anybody be considering a bailout for the failing automakers? Our economy rests on banks, not cars. If automakers tank, it’ll suck, but we’ll be just fine. Bailing them out would be like bailing out Target. There’s no greater risk here: when business fail to innovate and drive new business, they fail. The automaker’s in this country pushed SUVs and cars nobody really wanted based on 100 year old technology. Their fault. Their loss. Goodbye GM, hello whoever comes next.
Having said all that, I have a question I need to know the answer to. If GM fails, and I buy a new GM car, say, tomorrow, with a 3-year warranty, what would happen to my warranty?
