BUSINESS COLUMN | Wolf: Choosing bankruptcy over bailout
For many Americans, the idea of another round of bailout money for the auto industry is the last straw. Enough!
After all, if Sweden — the socialist land of 55 percent tax rates — could slam the car door in Saab’s face when it requested bailout money, maybe the U.S. should realize the socialist tag it has recently been earning itself is not quite so funny anymore.
Thankfully, the Obama administration is pushing Chapter 11 bankruptcy as the solution for big auto, either because it recognizes it as the right thing to do or because it is worried about the media whooping it...
