Didn’t some of these companies cause the crash? Or at least help it. Feels kind of unfair that they get off scot-free.
What would have happened if the government didn’t bail them out? Would we ever recover?
In: Economics
SsLet me put it this way in remembering the numbers cause I’m too lazy to look it up. For every employee GM has, there’s 7 others in the Midwest for suppliers. Transportation etc.
GM employs like 50k people. Together that’s about 400k jobs that go away if GM goes away. Can you imagine what the Midwest economy would look like if 400k jobs go away overnight? That’s not even counting Chrysler that was also about to fail.
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