Tuesday, March 31, 2009

3-31-09: Let Them Go Bankrupt

I was talking to some colleagues today about the auto industry, most specifically GM. This was in response to the President's speech (see below) talking about how Chrysler needs to partner up and GM might go bankrupt.

Personally, I'm with Mitt Romney, who called out months ago to just let the companies go bankrupt. The President has given the auto industry another 60 days to shape up, which they won't do. They're going to need to go bankrupt, restructure, and come back. Allowing them to bleed to death, on the taxpayer's dime, hasn't helped anybody.

Just let them go bankrupt and get this over with.

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