Do you think it would have been better if he'd started the process and
then left right in the middle, leaving GM et al holding the bag while
the new guys settled in?
He probably would have done this even had McCain won the election.
The operative statement was:
"... in order to give the outgoing administration enough time to exit and
for the next administration to settle in before the house of cards in
Detroit came tumbling down."
I saw the interview. The gist of Cheney's remarks was that the Bush
administration wanted to provide bridge financing to enable GM to limp along
a couple of months into the next administration. This would allow the Obama
team time to figure out how they wanted to handle the situation. There were
several alternatives, according to Cheney:
They could just let bankruptcy happen, they could work a deal similar to the
one the Obama administration came up with, the government could simply take
over GM, and other possibilities. Whatever decision they made, the decision
would have severely limited the options of the next administration.
So they chose to make no decision - to kick the can down the road - and let
the Obama team choose. Had the Bush administration chosen an option, say
bankruptcy, and the Obama folks decided that another choice, say bailout,
was preferable, the Obama folks would have to un-do the Bush decision first.
The Bush people thought this would unnecessarily hamper Obama's decisions.
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