Excellent commentary from Fareed Zakaria on the split automotive industry in the U.S.
CNN: So you are against the bailout?
No. But the reasons the CEOs of Ford, GM and Chrysler present — that they will restructure, they are still competitive, they will change — are bogus; they won’t. The best argument for the bailout is that it is the most cost-effective jobs program that the government can run in the short term.
We’ve been saying that for years 😉