Email Story

Cars

Matthew Yglesias found this 11/17/2008 on krugman.blogs.nytimes.com

Jonathan Cohn has the best statement I've seen of the case for a rescue. No illusions - these are companies that, to a large extent, drove themselves into a ditch. If the economy as a whole were in reasonably good shape and the credit markets were functioning, Chapter 11 would be the way to go. ...