There has been much debate over the proposed bailout of the auto industry. Having grown up in Michigan, and now living in Ohio, I have watched both states struggle as industrial jobs disappear. The question is, would it be better to allow GM to restructure under bankruptcy protection or provide a short-term bailout to give them the time they need to restructure on their own? By doing nothing are we allowing another US industry fizzle away? Former Boston Governor Mitt Romney – who grew up in Michigan as a son of an auto exec – has a very persuasive editorial in the New York Times that addresses this very issue. You can read it here.
Update: Here is video of an interview Romney gave on Morning Joe.
Another update: Senator Barney Frank has a different opinion. You can read/listen to it here on NPR.
1 comment:
I agree with the news article. I have been against the bailout from the start. I didn't even agree with the bailouts of the rest. Again, whatever the government can do to put money back in their own pockets they will do with OUR money. Sick how things work. Can the government say the word EXTREME GREED or even know what that word means?
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