True. Creative destruction.

It makes a big difference, though, whether the control passes to, say, another auto company, which might actually know something about the auto industry, or to a government "task force" composed of people who have no clue about the industry, and some pretty screwy ideas on economics in general.

I have used AmTrak as an example before. An industry deemed "too important to fail," which has now spent years eating billions a year in subsidies, a wealth drain instead of a wealth creator. I'm concerned that this is going to be the business model of the future.

Has putting the government in charge of large financial institutions improved anything?