Mitt Romney has an excellent op-ed today on why a bail-out of Detroit is a terrible idea. There does seem to be a consensus emerging that a government-sponsored bankruptcy (Chapter 11 with TARP dollars on the back side to finance the re-start) is the best way forward. A prerequisite of any such undertaking would be new management.
Wednesday, November 19, 2008
Posted by John at 11/19/2008 09:59:00 AM