Detroit Automakers a Relic of the Past

This is an opinion item.

Author(s)	Michael Barone
Source	Human Events
Date	November 15, 2008
URL	http://www.humanevents.com/article.php?id=29507
Quote	"The Detroit Three are taking advantage of the passage of the $700 billion financial bailout to argue that they, too, need government money to go on. But as Megan McArdle of The Atlantic argues, the finance firms are different. If credit coagulates, everyone suffers, while if the Detroit Three go bankrupt, their shareholders lose their stake, employee and retiree pay and benefits are cut, and real estate values go down in areas where the companies and their suppliers operate -- but life for most of us goes on."

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This item argues against the position United States should bail out the automobile industry on the topic Economic crisis of 2008.