Wall Street Journal Auto Writer: "The Detroit Bailout Was The Right Thing To Do"
We don't hear much anymore from far-right pundits who in 2009 were so passionately opposed to bailing out U.S. automakers. If you'll recall, the right-wing media rained down doomsday scenarios about how the over-reaching  federal government was killing capitalism , conspiring against Toyota , and taking over private companies like dirty mobsters .
Or, in the memorable words  of Rush Limbaugh, GM and Chrysler "bent over and grabbed the ankles." The union-hating, right-wing media did not want GM, Chrysler and their thousands of jobs saved. They wanted them buried.
Fast-forward two years and the bailout is seen in most quarters as an unequivocal success. Even the conservative Wall Street Journal agrees.
From  its auto writer Dan Neil [emphasis added]:
The Detroit bailout was the right thing to do: Grit your teeth if you must. Two years later, GM is profitable, right-sized, globally competitive and an engine of automotive change—as evidenced by the Chevrolet Volt extended-range electric vehicle, named the North American Car of the Year. The government's stake in "Government Motors" is down to 25%. When GM's stock reaches the low $50s range, analysts expect the Treasury will likely sell the remaining stake and actually make money on the deal. That's about as good an outcome as could reasonably be hoped.