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Harsanyi on the Czar

Posted By Russ Roberts On December 10, 2008 @ 11:23 am In Intervention | Comments Disabled

Superb [1]. One of the good parts:

Many people are asking: Why can’t these companies go bankrupt and
reorganize like everyone else? In bankruptcy court, the process allows
the auto industry to negotiate with creditors, stakeholders and
unions.

Well, the auto industry spent nearly $50 million lobbying Congress in
the first nine months of this year while unions spent hundreds of
millions to put Democrats in Washington. Those are two reasons.

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