WSJ: Bankruptcy Is the Perfect Remedy

Posted on Tuesday, December 16, 2008 at 3:58 pm

zywicki_todd.jpgTodd J. Zywicki (HT: TOTM): Those Washington politicians who repeat the mantra that “bankruptcy is not an option” probably do so because they want to use free taxpayer money to bribe Detroit into manufacturing the green cars favored by Nancy Pelosi and Harry Reid, rather than those cars American consumers want to buy. A Chapter 11 filing would remove these politicians’ leverage, thus explaining their desperation to avoid a bankruptcy. See here.