Bankruptcy vs. Bailout: Which is Really Better for the Taxpayer
Take, for example, the Big Three Automakers. Since Bush’s Treasury Secretary, working closely with the Pelosi/Reid/Dodd/Frank Congress opened the money spigots earlier this year, all sorts of companies have gotten in line for their cut, including the automakers. Why? Because they are on the verge of bankruptcy and they want to be rescued. Congress has already promised them $25 billion, but the question is whether the automakers and the public would be better served with congressional oversight of GM, Ford and Chrysler, or with the judicial oversight that would come with bankruptcy.
I wholeheartedly agree with your views on this whole “bailout fiasco”. I have already written to Bob Inglis, my local representative on the matter, and will also be writing my senator as well. Thanks for posting the links.
Thanks for doing that, too many people leave things to pass however they will. Enjoyed your blog by the way.