BOLD Ministry

The Wall Street Journal quotes GM Chief Executive Rick Wagoner as saying that a bankruptcy filing would likely lead force GM to "liquidate the company because you wouldn't have any revenue." And he stated that GM has "concluded it should put virtually all effort into avoiding" bankruptcy and hasn't worked out a detailed contingency plan. Ford CEO Alan Mulally held the same position, that his company has discounted a bankruptcy option and thinks that "it is not a viable" option.

OK so without all the posturing and grand standing here are facts that YOU CAN TAKE TO THE BANK:

GM and Ford were bankrupt not based upon their cash positions, revenues or sales; they were bankrupt by virtue of the abased character of their management who have not only failed their shareholders but every citizen of this republic. Wagnoner and Mulally did not come for a bailout, they are engaged in an enormous corporate blackmail scheme.

Especially GM's Wagoner, who thinks that he can just take bankruptcy off the table. Hopefully their Directors and Officers Liability insurance has lapsed, since they guys think they can just dump their mess on the tax payer.

The American corporate leadership model has been set back 100 years to the robber barrons. This is serious, and we need some serious leadership to call these boys to task. This menagerie of corporate entitlement is literally threatening the fabric of life from Main Street to Manilla.

My prayer is that a godly standard would arise in the wake of this horrific behavior.