Back in September during the battle over the bailout in Congress I for one was against the entire thing. It seems like the odds were stacked against us who opposed it as both major presidential candidates along with the leaders on both sides and the President were all set on ramming this scam through on the American people. Taxpayer money should not be used to bailout those who took financial risk and lost as businesses in a free market need to have the freedom to fail. Risk is the basic premise of what capitalism and making a profit is all about. Andrew Grossman has an article on the Heritage Foundation website posted today Automakers need Bankruptcy not Bailout.

I could not agree more with Grossman and the majority of the American public who I feel oppose continuing to pour money into failed business plans. As painful as it is the only way to get out of this mess it to let the markets sort out the winners and losers and rebuild from the ground up. These automakers need to file bankruptcy and get some breathing room like anyone else in life who has to that has over extended themselves. After bankruptcy the automakers can begin to work on a new strategy for doing business in the global economy on a different course than that which has obviously failed in the past.