Today the bosses of the Big Three automakers stand before Congress with their begging bowls out. General Motors could file for bankruptcy before Christmas unless the taxpayer steps in. But why should such a badly managed industry be saved? Isn't this what bankruptcy is for?
Lloyd Grove is editor at large for The Daily Beast. He is also a frequent contributor to New York magazine and was a contributing editor for Condé Nast Portfolio. He wrote a gossip column for the New York Daily News from 2003 to 2006. Prior to that, he wrote the Reliable Source column for the Washington Post, where he spent 23 years covering politics, the media, and other subjects.
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Peter Beinart, senior political writer for The Daily Beast, is a professor of journalism and political science at City University of New York and a senior fellow at the New America Foundation.
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