November 19, 2008

Let Detroit Go Bankrupt, says Romney

It’s not just (off-and-on) liberal thinkers like Tom Friedman who are skeptical of a US automaker bailout. One-time Republican presidential candidate Mitt Romney’s op-ed published today is even blunter:

“If General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday, you can kiss the American automotive industry goodbye. It won’t go overnight, but its demise will be virtually guaranteed.”

Instead, Romney offers a plan for a managed bankruptcy.

Perhaps somewhere between Friedman and Romney can be found some good ideas for getting Detroit back on a growth path.


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