Legal Commentary

If GM Is Like Citi, Where Is Citi's Sacrifice?

By Big Tent Democrat

Jim Manzi writes:

Chrysler may have to play Lehman to GM's Citigroup.

The idea is Chrysler will be allowed to fail like Lehman and GM will be rescued like Citi. Here's my question -- where is the tough talk to Citi?

It will require creditors to recognize that they cannot hold out for the prospect of endless government bailouts. Only then can we ask American taxpayers who have already put up so much of their hard-earned money to once more invest in a revitalized [financial] industry.

When will President Obama say that?

Speaking for me only

Full post as published by TalkLeft on March 31, 2009 (boomark / email).