GM & Chrysler will get, with stipulations, another opportunity to get it right, while the American taxpayer gets saddled with the bill.
Bush said recently that he had to abandon free-market principles in order to save the free market. It’s an odd quote, but under the circumstances, is it an accurate one? Would the American economy have been able to sustain itself if the “Big 3” had declared bankruptcy instead? I’d like to read your thoughts.
The President will make a brief statement on the WH’s course of action at 9 AM ET.