Isn't the US supposed to be capitalist?
Doesn't capitalism say that when a company fails to adapt to a changing marketplace, they deserve to fail?
It seems to me that GM made a lot of poor decisions, and that its plummeting sales are its own fault. Yes, they're also explained by broader economic woes. But isn't it GM's fault for not adapting sooner? Instead of building the next generation of practical, fuel efficient cars they've been turning out the same old gas-guzzlers for decades now. Why should the federal government bail them out? What is there even to bail out? I think GM should fail. Isn't that what is supposed to happen in the free market?
Yes, I realize that the repercussions of GM's failure will be enormous, and that lots of jobs depend on GM. But it seems like bailing GM out would just be deluding ourselves into thinking that it still has a winning formula, when in reality it is a losing formula. America needs to wake up and stop living so unsustainably. I'm sorry for all the people who will lose their jobs, but maybe its time that we created jobs building energy efficient cars instead of gas guzzlers. That seems like more of a growth engine to me. I think GM should go bankrupt, and that its factories and equipment should be bought by brand new leadership who will start making fuel efficient cars. We can't just let the same old tired GM leadership stay in control. Its their fault GM is failing. They should be punished by losing their jobs. They need new blood.