Corporate Bailouts by Politicians

Corporations such as those in the automobile industry and in financial trouble, can always use the bankruptcy courts for an orderly means to reorganize debts.

                       

This has unfortunately been forgotten by the administration, at enormous cost to our national budget and constitutional framework.

                       

Bailouts in the auto industry were done, in effect, to salvage outrageous union contracts, which bankruptcy courts would have dissolved equitably. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole tweets.)