Let Them Fail
Last month, the chief executives of General Motors and Chrysler made their now monthly trek to Washington — skipping the private jet this time — to grovel at the feet of Congress. Their humble request? Another $21.6 billion, please. That’s how much taxpayer support is needed — on top of the $17.4 billion in loans they had already been granted in December — to allow them to keep the lights on through March. Without this aid, they warn, two-thirds of Detroit’s Big Three will plunge into bankruptcy, sending cascades of financial woe throughout the U.S. economy.
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Let Them Fail
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