Thursday, December 04, 2008
No Big Three bailout
Here's the Register's editorial (not written by me) on the latest trip to Capitol Hill by GM, Chrysler and Ford, with corporate hats in hand seeking money (just a loan, of course) to the tune of some $38 billion-with-a-b from the taxpayers. We said Congress should send them away empty-handed to face the music resulting from their own decisions and mismanagement. How many entities will be deemed "too big to fail" before the economy is flat on its back and permanently hogtied by federal command and control?