There is probably no more appropriately inappropriate cliché than stating the bankruptcy of G.M. was like witnessing a car crash in slow motion. Becuase the final weeks of agony were in slow motion, grounds were prepared politically, economically and psychologically for G.M.’s bankruptcy, therefore there was no huge panic or confusion. It’s worth remembering that last year and early this year, there was a possibility that G.M. could go under uncontrolled, which would have been catastrophic for the whole economy. What future holds for G.M.? We shall have to wait and see.
1 June 2009