Democrats from Barack Obama to Nancy Pelosi want to grant immortality to General Motors, Chrysler and Ford. They have decided to follow an earlier $25 billion loan with a $50 billion bailout, which would inevitably be followed by more billions later, because if these companies are not permitted to go bankrupt now, they never will be.
This is a different sort of endeavor than the $750 billion bailout of Wall Street. That money was used to save the ...
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Brooks makes some solid points in the piece decrying a bailout of the auto industry. He fails to tell readers what a failure of the big three would mean for the American economy in the short and medium term, however.
Insightful opinion about the proposed $50 billion government bailout of Detroit's big three automakers, supported by Obama and Democrats. The author argues against such a major investment in General Motors, Chrysler and Ford, because of their history of management blunders and miscalculations. This article is thoughtful and makes a reasonable case that this is a questionable use of federal funds. He also suggests that this political decision may be partly influenced by lobbying from ... More »
I often disagree with David Brooks, but I usually learn something by reading his column. This column explores the hazards of government granting immorality to corporations.
A question this article does not address is if we let the "big 3" go how will that effect the manufacturing ability/base of this country?
It is all a reminder that the biggest threat to a healthy economy is not the socialists of campaign lore. It’s C.E.O.’s. It’s politically powerful crony capitalists ... More »
The author's points are reasonable -- why bail out a poorly managed auto industry, instead of investing these funds to support more important or ... More »