there s been a few questions here about the auto industry, which we haven t touched on. it is a thorny issue. what happens if the auto industry fails? obviously, it would be quite a bit of economic devastation. what is the future for the automobile city for the unionized work force and retirees who are now living off that. anyone? it s a hard one. let me say that one of the issues here is that there s. to some extent the issue has been refrained the wrong way. : and so the same thing in the auto sector. if the auto industry fails, what that means is that the bondholders become the new shareholders. the shareholders lose value. because of the current financial prices we might have to lend money to the industry to get it restarted, but we could lend with a certain amount of security that once we ve restructured the financial restructuring we would have a very good chance of getting our money back with compensation, with interest. the problem is that just like the admini
areas. but which was rapidly becoming black. when he rented to black tenants, he was called a blockbuster. if he were to refuse to rent to them, he d be called a racist. given his public posture, he could not sell the buildings as black people were beginning to move in, then he would clearly be a hypocrite. if he sold after the neighborhood became all black, he d find for buyers except the speculators that he was denouncing. of course, he could not participate in the plunder engaged by these real estate speculators so he was basically left with one choice and that is to hold on and that s what he decided to do. he held onto the properties and he tried his hardest to maintain them while the area around them declined. but if his efforts to maintain them failed, then he would be called a slum lord. if the buildings were damaged by tenants, he would be called a slum lord as well. now what all this shows just as black people who wanted to leave the so