Sunday, November 30, 2008

Romney says No to Big Three Bailout

Romney says Big Three automakers need real change, not a bailout. His point that the bailout will stop real transformation in the US carmakers is correct. The cost structures won't get fixed by a bailout. Only a bankruptcy that allows them to tear up the UAW contracts will do that. So the bailout is really a bailout of the UAW's overpaid union members.

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