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  • Cheney: Bush Shouldn't Have Bailed Out GM

    05/28/2009 1:43:34 PM PDT · by jessduntno · 37 replies · 1,765+ views
    Newsmax ^ | Today
    <p>Former Vice President Dick Cheney said the Bush administration should have let General Motors go bankrupt instead of bailing out the troubled auto giant, according to The Hill.</p> <p>Cheney told CNBC's Larry Kudlow that he disagreed from the beginning with Bush's decision to provide a short-term loan to the embattled automaker. At the time, the move was intended to keep the GM solvent until then-President-elect Obama could take the reins. A month before he left office, Bush announced a $13.4 billion bridge loan for General Motors and Chrysler.</p>