re: #71 elbruce

If we hadn’t bailed out GM, we wouldn’t have an auto industry in America. It wasn’t the ideal choice, but it was the best of a tough set of options. Fortunately it happened to work out really well so far, so I don’t see much point bitching about it. As long as we don’t make it standard practice going forward.

Letting the entire auto industry go under isn’t just about “letting the free market choose the winners and losers”.

It also would have had real national security implications. We are not about to let foreign companies own and control all of the heavy auto industries in this country. No way…no how. We have to have American owned auto industry that can go onto a war footing in an emergency. That is something the “invisible hand” idiots never seem to take into account (to say nothing of social stresses and political reality).