
Revival of U.S. steel industry offers lessons for automakers - jbrun
http://www.iht.com/articles/2008/11/23/business/steel.php
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byrneseyeview
The solution is to have the government take over their liabilities, while
their bondholders keep the assets?

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gaius
Yes that doesn't seem right. About the best thing for the taxpayer-voters the
government could do would be to asset-strip the Big Three and any value
extracted put into the public purse.

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ojbyrne
I think this article (if you read page 2) points to the obvious solution -
government says to the big 3, declare bankruptcy, then we'll give you (or help
you get) credit to avoid liquidation.

