On Bloomberg Sen. Richard Shelby, when asked if he would support forcing the automakers in Chapter 11 and having the Government carry the DIP, responded that if they went into bankruptcy, the bankruptcy judge would have “a lot of latitude”.
Which did not, of course, ANSWER THE DAMN QUESTION. What’s more, it was clear that he didn’t even understand debtor in possession financing as part of a Chpt. 11 restructuring.
Can we please nuke Ala-fucking-bama? They produce too many stupid people and send the dumbest of the dumb to Washington.
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