Comment

New Mexico Gets Bain'd: Romney Took $2.5M in Tax Dollars and 1,000 Jobs From New Mexicans in 2000s

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MPH7/19/2012 7:52:34 am PDT

re: #171 jamesfirecat

So he should have just let Detroit go bankrupt instead?

Detroit the city is essentially bankrupt already. But, I’m assuming you meant General Motors. Yes, it most definitely should have entered into a bankruptcy restructuring. Instead, we’ve just kicked the can down the road, threw away untold billions of dollars of wealth (no, they haven’t even come close to paying it all back and they never will) — and meanwhile, the economy as a whole continues to be worse off. The corrupt Detroit status quo benefited at the expense of the rest of the country — and even that benefit will be fleeting.

This notion that we’re better off because of the bailouts (be it the auto or bank bailouts) is depressingly partisan. Had Bush or McCain been responsible for the GM bailout, you’d see a large percentage of the Republican party defending it today.

Partisan politics is a blinding force. But I guess it is good for page views.