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Are GM, Chrysler "End Running" Chapter 11? Some critics say the automakers are structuring their bankruptcies as sales in an improper way.

Alix Stuart, CFO.com | US
June 9, 2009

My Forecast: My forecast, as we work through this situation, is higher risk premiums for this debt, more strict documentation, and a robust market for credit default swaps. Consequently, advantage will go to the well run, well capitalized competitors where labor and management can succeed together, over the long run, without any government assistance. On the other end, with government assistance, we will have weaker players on the low end, with higher than ever cost structures and more grandiose taxpayer subsidies. Eventually, without governmental withdrawl from the bailout business, success will be overtaxed and successful enterprises will fully or partially exit the US system for greener pastures. Yes, these ARE special circumstances because they will define the path we take from Washington. We live in a time of critical policy decision making.; Posted by Tom Nist | Jun 18, 2009 1:24 PM ET