This is one of the reasons I really like Mike. He's come out very strong against bailouts. Period. Not the auto industry, not the banks. Nobody gets bailed out. NOBODY.
Bailouts are totally not cool. They ultimately fail and they do not produce growth or innovation. They keep companies that need to go bankrupt for the economy to move on, limping along and dragging down the rest of the economy. Are they painful? Of course for all involved they are. However, continuing to finance a failure cannot in the long run produce success.
In order for success to be defined, failure has to be a possibility.
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