Friday, November 19, 2010

Goolsbee Whiteboard: Saving GM

I totally get the argument that saving GM was unfair to other car companies. But it was an emergency situation. It was a time when the financial industry was collapsing and we were losing jobs left and right. Ultimately, Obama's decision to save GM proved wise. Obama put the common good first and probably saved not just GM, but the U.S. auto industry. If GM was allowed to fail, Ford might not have been able to succeed as it has.