Let GM die!
Posted by sanityinjection on November 17, 2008
Michael Levine writes in the Wall Street Journal to explain why GM is failing and will continue to fail if the federal government hands them billions in bailout money. The best solution is to allow GM to go into bankruptcy, which will force them to renegotiate bad deals and cut dead weight:
The bankruptcy process would slim GM down to a potentially viable entity that might actually be worth spending some federal dollars to support at that point.