Don't Bail Out GM Again

Would we bail out General Motors Co. if it went broke a second time? Should we?

The premise for rescuing the automaker during the 2008 financial crisis was to prevent traumatic job losses and save the U.S. auto industry, including the parts manufacturers that GM would have taken down had it gone out of business. The reasons for GM's failure stretched back decades, including a bloated cost structure and pension obligations that it couldn't afford to pay.