Zapping the Volt: "Bloomberg reports that a General Motors failure would cost the federal government $200 billion. And the Center for Automotive Research concludes that if the Big Three fail, it will mean the loss of 3 million jobs in the first year of collapse.
As Naomi Klein has writen, proponents of unfettered capitalism are always looking for these 'clean slates' where other people pay the price in misery for their philosophical experiments. But as Paul Krugman noted on This Week when he ate George Will for a mid-morning snack, expecting the economy to absorb that kind of impact right now would be extraordinarily risky. "
(Via Firedoglake.)
