Just saw Feingold on CNN talking about backing the bailout of the automakers…”An America where we don’t make our own vehicles is unthinkable”. But it’s okay ’cause he’s gonna fight for more fuel efficient cars as part of the deal.
Shut the fuck up, Russ.
US automakers are in a mess because they made a series of bad management decisions. Period. We (in the form of the government) subsidized their bad decisions through absurd things like massive tax breaks for buying SUV’s. Really. And, of course, various other automaker assistance programs over the years. Despite what the executives of these companies are saying and despite the echoes of their horseshit being mouthed by union leaders, a bailout of domestic automakers does not have to be an all or nothing thing. Pick two. Bail their asses out and let one die off. Better yet, don’t bail any of the big three out. Use that $25BB to provide one hell of a soft landing for the adversely impacted non-management workers (fuck the executives) and see what shakes out. One of the reasons we don’t have viable alternative energy vehicles and auto companies in the US that actually make GOOD cars is that we prop up a bunch of crap companies who create extremely costly barriers to entry (see also: Airlines). So, knock some of those barriers down and use the money to give a cushion to the workers. It does not have to be an all or nothing gig where we save all three.
Of course, given bailout fever, we’ll be lucky if Congress doesn’t pass a bailout bill with more than they’re actually asking for.
