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Issue Position: Auto Bailout

Issue Position

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The "too big to fail' doctrine goes against the core principles of a free market economy. Better-managed competitors are treated unfairly, and in this particular case creditors have been treated unfairly to advance a political agenda. Currently, Washington owns some 70 percent of the new GM, while the United Auto Workers union will own almost 20 percent. It is time to sell GM and Chrysler back to the shareholders.


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