George Will on Government Motors Corp.:
[The Obama] administration prefers to do that rather than allow bankruptcy to infuriate the United Auto Workers union, which was pre-emptively grateful to Obama’s administration with lavish contributions to candidate Obama. The president supposedly showed “toughness” in sacking a conspicuous member of a particularly unpopular little cohort, CEOs of big corporations. He will need more grit if, as his administration hints, this time it is serious, that its patience is wearing thin, that someday GM could face “controlled” or “prepackaged” or “surgical” bankruptcy. One suspects that those adjectives intimate that it will be faux bankruptcy, gentle in dealing with the UAW.
So there you have it. We’re not bailing out GM, we’re bailing out the UAW. In fact, both organizations are in dire need of restructuring.