Interesting article by Jim Manzi in the National Review. He discusses how it would be good or bad to simply let GM fail rather than use your money to save their dinosaurian rumps. The Corner on National Review Online
it's good for the company in the long term. If they learn from their mistakes that is...and not need another bailout in 3 years. on the other hand if they do go under it's a death throw for America, GM really is that important. Unemployment will go up to 8% or more just from this one company.
Ok, here's the deal: Oil companies - you either buy the car companies or pay excess profits taxes, which we will use to bail out the car companies I love the irony of seeing Exxon-mobiles. Bob Wilson ps. Until this moment, I didn't realize how much I hated oil companies ... to wish a US car maker on them ...
I believe the collapse of one of the US's largest manufacturers would be dreadful for the USA and bad for the rest of the world. I believe any bail out should be conditional on the failed management being sent packing without termination pay and legislation passed to allow it, then outlaw bonuses based on short term profit goals but allow rewards of non trade-able shares which can be willed only to offspring to allow top management to share in the spoils of future profitability. This will encourage long term profit planning instead of the short term gains that management currently strive for.
