Last week, Reason Magazine ran an excellent article entitled “General Motors Will Never Repay Taxpayers.” I don’t really have anything to add in the way of commentary, but wanted to reprint some of the information here for your enjoyment.
I was against any and all bailouts from the very beginning. I truly believed that the markets should be allowed to work. If one or more of the automakers had a business model that could not survive in today’s economic climate, than it should have been allowed to die. There would still be demand for cars that would need to be made up somewhere, and another car company would have filled that need (at little or no cost to the taxpayers).