Page 97 - Liquidation News Today

Agreement with the federal government, they needed to cough up $5 million and put it in a fund. they couldnt do it. >> greta: that was december of 10? >> december of 2010. >> greta: we knew they couldnt come up with the $5 million? >> we didnt know it. we knew broadly they were in financial trouble. now were getting into the we found out today we needed to come up with $5 million, and department of energy confirms they were told this, and they agreed to renegotiate the contract, and they scrambl...

Half a billion dollars to one company. and it is to somebody who gave a lot of money to the president. the worst part is energy department officials on the board in the late months, in 2011 when it was headed downhill they were aware of the condition of the company. apparently, did nothing. all that money -- there was a change in the loan arrangements, late in the game, the energy department, which was originally supposed to be first in line, to collect in case of a liquidation and a bankruptcy,...

If you dont to way you can solve the problems. a failed monetary system that -- the interest rates that are lower than they should be encourages debt. to get out of that, all this other tinkering, you cannot do that unless you liquidate debt. you dont bailout the people that are bankrupt and dump the debt on the people that is what has happened. you have to allow liquidation of debt, eliminate the investment, get growth again by having a better tax structure lower taxes invite capital back into ...

Have to raise our taxes on the people who are making money, which would make things even worse. but because people in washington and federal reserve didnt understand how the bubble-type economy works and the business cycle works, they didnt allow the correction. weve been -- the market wants things corrected. they want liquidation of bad investment, bad debt -- they need prices to go down, they need labor costs to go down. and then get rid of the problems, then you go back to work. so, we have d...

Latest updates on this topic.

Adding 1,200 jobs and a second shift. the president strongly defended the unpopular $60 billion decision to bail out the auto industry and said it prevented a collapse. >> we had to face a hard, unimaginable reality. which was two of the big three automakers, gm and chrysler, were on the brink of liquidation. if that had happened, more than 1 million jobs could have been lost. and that would have been a devastating blow to the entire dmi. >> well, new numbers show the auto industry is making a c...

Latest updates on this topic.

>> management is firfired, shareholders and creditors lose. there is a liquidation of assets that occur. >> i dont think you do it by creating a moral hazard, but putting a big fat fund out there in the first place that tells financial institutions dont worry. >> reporter: treasuresy secretary tim geithner opposes the fund. so does the white house leaving the issue for now unresolved. >> senator dodd included that in his legislation. as you know, it was not in our original, it was not in our ori...

Taxpayer bail-out. >> management is firfired, shareholders and creditors lose. there is a liquidation of assets that occur. >> i dont think you do it by creating a moral hazard, but putting a big fat fund out there in the first place that tells financial institutions dont worry. >> reporter: treasuresy secretary tim geithner opposes the fund. so does the white house leaving the issue for now unresolved. >> senator dodd included that in his legislation. as you know, it was not in our original, it...