Wednesday, November 19, 2008

George Will on the Auto Bailout

Mr Will's answers those that ask what should the government do in light of the impending failure of the big 3:

Do nothing that will delay bankrupt companies from filing for bankruptcy protection, so that improvident labor contracts can be unraveled, allowing the companies to try to devise plausible business models. Instead, advocates of a "rescue" propose extending to Detroit the government's business model for the nation -- redistributing wealth from the successful to the failed, an implausible formula for prosperity.

Whole thing here.