...Congressional Democrats and President-elect Barack Obama, who are pushing for many billions worth of emergency aid for the nation’s least-competent carmakers, must ensure that tough conditions are attached to any rescue package. If not, the money will surely be wasted.
This goes beyond firing top management, forbidding the payment of dividends to stockholders and putting limits on executive pay — all necessary steps. The government should insist on a complete restructuring of any company it pours billions of public funds into...
...It makes no sense at all to give these companies billions just so they can struggle on for a few more months down this disastrous path...
Well said! So we're going to do this for all the banks- including AIG- too, right? Right?
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