To hear the bailout people talk, you would think that taking a firm to bankruptcy is akin to sending it to the mortuary. That is false. Bankruptcy is more like intensive care. It's where we have always sent our sickest companies.
Sending taxpayer money to GM will not help it in the long run. Our economy will be saddled with tossing resources at a struggling company indefinitely. The sooner GM reorganizes and becomes more efficient, the sooner our economy will begin heading in the right direction.
http://www.bloomberg.com/apps/news?pid=20601039&sid=adrijB0J0YKE&refer=columnist_hassett
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