Bill Bennett writes, March 30th:
I understand the argument that we cannot allow these auto-makers to fail. What I understand less is why Mitt Romney wasn’t correct, why couldn’t these companies have gone through a managed bankruptcy? Writing this back in November, I think he’s been proven right: once these companies receive taxpayer money, there’s a reverse set of incentives to change radically enough to turn the companies around and they will ultimately come back for more and more money.
>> Also from NRO's The Corner: Somebody Had This Right Last Fall
A conservative who had been skeptical of Romney during the 2008 campaign told me that the November 2008 op-ed impressed him, for a former auto-industry guy to come out and declare, "the taxpayer shouldn't be on the hook for saving Detroit, let the companies declare bankruptcy."
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