It's one thing to bail out the organizations that our entire economic system depends on to function. But GM? This company has been failing for a long time. They've been talking about the potential for bankruptcy for years. GM's not just caught up in the liquidity crisis. It's an "our products suck, we are not responsive to consumer demand, and we have been overpaying labor for way too long" sort of problem.
I liked this video on a bailout that has received somewhat less media attention:
Of course, if he were a bunny puppet, I simply couldn't deny him the $25 billion.
(via Megan McArdle)
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