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Bankruptcy Still Best

Posted By Conn Carroll On January 13, 2009 @ 10:08 am In Economics | Comments Disabled

Heritage analyst Andrew Grossman will be discussing the auto bailout with Wall Street Journal Former Detroit Bureau Chief Paul Ingrassia, Competitive Enterprise Institute General Counsel Sam Kazman, and Mackinac Center for Public Policy Senior Economist David Littmann. The panel can be seen live here [1] at 10:30, and will also be available for viewing afterward [1].

Here’s a quick preview [2] of Grossman’s thoughts on the subject:

Bankruptcy Law Exists for a Reason

With recent job losses across the economy, lawmakers are understandably nervous to subject themselves to the charge that they have allowed further business failures, and more job losses, to occur on their watch. But this charge is easily rebutted, for it misunderstands the role of bankruptcy law in revitalizing businesses. Properly understood, reorganization in bankruptcy represents the best chance for General Motors and Chrysler to survive and prosper.

Article printed from The Foundry: Conservative Policy News from The Heritage Foundation: http://blog.heritage.org

URL to article: http://blog.heritage.org/2009/01/13/bankruptcy-still-best/

URLs in this post:

[1] here: http://www.soundque.com/bcast/streamMPPI.html

[2] quick preview: http://www.heritage.org/Research/Economy/wm2165.cfm

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