We are in a time of industrial revolution.  This statement has to be repeated and as a minimum debated.  That is why the US bailout of the auto sector failed.  Aside from the inability of US government to function effectively, if we dig below the surface, the underlying concern of the US politicians is the ability of the US auto makers to survive beyond the cash from the bailout.  In normal parlance this is called insolvent, and Chapter 11 is an appropriate approach.   It offers the time and thought to consider whether to retrench, re-engineer or just give up. Chapter … Continue reading What if bank bailouts are the wrong approach?