Monday, November 17, 2008
No Bailout for the Big 3
Powerline has a post this morning arguing against the bailout of the Big 3 auto makers that puts the issue in perspective. Giving them $25 billion would be throwing good money after bad. It's time for Chapter 11. Only if the auto makers can get rid of their crushing legacy costs will they have a chance to recover. A bailout will just delay the inevitable.