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Saving General Motors
Would bankruptcy be better for struggling automakers than a bailout?
 

The only way to save General Motors is to let it go bankrupt, said Michael E. Levine in The Wall Street Journal. It has too many dealerships and too many brands to survive, and if the government keeps it on life support it "won't change fast enough."

We all share the blame for the SUV-era, said Jeffrey D. Sachs in The Washington Post. So punishing the auto industry by letting it crumble is pointless, especially since it could "destroy the U.S. economy in the process." Instead, "we should fix the industry with a sense of national responsibility and purpose."

It's ludicrous to suggest that GM, Ford, and Chrysler are poised for a turnaround "if only we keep them afloat a while longer," said John Hinderaker in Power Line. The companies are losing so much money they're essentially worthless. The only thing that will be saved if the government steps in will be the United Auto Workers, "otherwise slated for extinction."

 

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