GM Considers Bankruptcy... Boo hoo...

After pleading frenetically with the U.S. government for aid, the WSJ reports that the GM board has bankruptcy as an option. Much conjecture has put a GM bankruptcy as an absolute end to the company, since some speculate that people will be much less likely to buy a GM car, because with a bankruptcy filing the company will be much more apt to fully liquidate and close, thereby making service and parts for a GM car next to impossible.

While I realize this threat to GM, this is BS Free Economics, therefore I'm obligated to tell GM to get a grip on themselves, and not cry to the federal government for help. Economics aside, whatever happened to accountability? Since the GM managers have run the company into the ground, why should the expect to get specialized treatment to avoid bankruptcy and save the company? The executives and board of GM need to declare bankruptcy, since in these dire straits it's, what I believe, their most viable option.

And side-stepping consumer doubts that a bankruptcy will most likely cause? How about making good cars for a change, that people like, and sell them effectively using skillfully created marketing campaigns that cause consumers to exercise sovereignty with their wallets to decide whether GM stays in business or not. 

I believe that with better management, GM could survive a Chapter 11 Bankruptcy filing, and thrive once again, but it will take much work, and change in leadership and strategies.