Letter to the Editor, Charlotte Sun:
from Chet Buckenmaier:
In 1990, the IRS impounded the infamous Mustang Ranch, a legal brothel in Nevada for back taxes and attempted to manage the business presumably with new surrogate management to get back the unpaid taxes.
Whatever the government's business model was, it failed quickly. So, if the government can't run a cathouse with a liquor license, how in the world do we as taxpayers expect these congressional thick-wits to manage our three major auto industries along with political strings attached to an ill-defined and indefinite number of government bailout "loans," which now amount to $50 billion?
It seems to me Mitt Romney has the answer, as does George Will in his April 5 column. Get these corporate numb-skulls into Chapter 11 now for their own protection, as well as the workers and as management restructures appropriately, they could earn additional progressive "bridge" loans with definitive, economic growth commitments -- no political strings -- from Uncle Sugar, only if a viable infrastructure is evident based on definitive, tested business parameters.
>> full letter
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