Orderly bankruptcy? For carmakers, that's an oxymoron.

Ronald Reagan once said that the nine most terrifying words in the English language are, “I’m from the government and I’m here to help.” Detroit’s CEOs and UAW President Ronald Gettelfinger night recall that now-famous line as the Bush Administration and Treasury Department have talked about an “orderly bankruptcy” as a means to “help” them through the financial crisis.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.