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I'm not saying write GM a blank check, ot invest in a doomed company, if that's the case, they should fail. But it would be a shame if when things turned around we find that we could have saved our domestic auto industry if we tried.
This is more than the usual shakeout of weak, uncompetitive companies in the marketplace. Sitting by and letting events play out in times of crisis is not a good idea - that's what Hoover did. You end up with 28% unemployment and the republic teetering on the brink.
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