It seems our government has a problem running businesses. Even businesses that should be a guaranteed profit without significant expertise required. Like selling liquor and sex.
Back in 1990, the Government seized the Mustang Ranch brothel in Nevada for tax evasion and, as required by law, tried to run it. They failed and it closed. Now we are trusting the entire economy of our country to same guys who couldn't make money running a whore house and selling booze?So now the government is going to run car companies? My bet? There will soon be cars, some without tires, some without steering wheels, and others without engines piled up in warehouses awaiting buyers who are sure to come. Some day.
They will get sold as government surplus and some one will make a profit getting them in running order and selling them to customers who want to buy them at a price they can afford. So let me ask you, if the people in the auto business in Detroit are so smart, workers and management, why can't they do it without government help? After all they have only had 30 years since the last bail out to figure it out.
Well OK. Cars are hard and whorehouses are unusual. Maybe the government would be better with medical services.
H/T Roger Kimball
Cross Posted at Classical Values