Why Bankruptcy is the Best Solution

Posted on Sunday, December 14, 2008 at 11:39 pm

becker.jpgGary S. Becker: I believe, as I stated in my November 18 discussion, that the big three auto companies should be allowed to go bankrupt…. I am disappointed that President Bush seems willing to use several billion dollars of the $700 billion financial rescue package to aid the auto companies after Congress could not agree on a bailout. Whatever President-elect Obama will do after taking office, the right policy for the president is to follow Congress’ lead and allow American car manufacturers to restructure through bankruptcy. See here.