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Why should the US bail them out when 90% of their bad investments are in mainland china? Let them fold.
Presumably it’s only for their US holdings.
I would like to know that 100%. The mother corporation can push their debt onto subsidiaries like the US holdings.
I have seen this happen a few times when the company I work for get bought out/taken over. These were multinationals, but no bankruptcies happened. We just had to suck it up and pay it down...
They came over here and contributed to our housing crisis. They are part of why no one can afford rent or property. Fuck them. No protection should be granted.
Unfortunately the way these things work and why these protections exist is that these bad actors will have greatly involved arguably clean handed third parties. As noted in the article, loss of their equipment assets will render them unable to complete contracts of average citizens and leave incomplete, so possibly unsafe long term, buildings behind. Thats obviously not the best outcome, it just sucks that often the guys forcing these bad outcomes will hold everybody hostage unless they get saved too.
this post was submitted on 19 Aug 2023
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