Tuesday, June 2, 2009

David Brooks on why the bailout of GM won't work.

David Brooks nails everything wrong with the GM Bailout.  Money quote:
For the elemental facts about the Obama restructuring plan are these: Bureaucratically, the plan is smart. Financially, it is tough-minded. But when it comes to the corporate culture that is at the core of G.M.’s woes, the Obama approach is strangely oblivious. The Obama plan won’t revolutionize G.M.’s corporate culture. It could make things worse.

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