Let Detroit go bankrupt

Mitt Romney, Detroit native, on how the government should respond to the Big 3’s request for a federal bailout:

Without that bailout, Detroit will need to drastically restructure itself. With it, the automakers will stay the course — the suicidal course of declining market shares, insurmountable labor and retiree burdens, technology atrophy, product inferiority and never-ending job losses. Detroit needs a turnaround, not a check.