bailout3952
I guess the Big 3 were too big to fail. That is, our venal leaders were torn between fearing we’d revolt if they bailed out their buddies and fearing we’d revolt if they let a million more jobs go down the tubes. In the end I think it’s a good thing that they gave these pompous losers three more months to get their house in order before the day of reckoning comes. Once again strange political bedfellows made for a weird ideological tension behind the resolution. Conservatives want to break the back of organized labor forever, and in their view they’re not so much saving jobs as making sure manual laborers get paid no more than service industry employees. True liberals want the market to do its magic — even if that means losing a million jobs. Bleeding heart liberals want us to think of the children — of the soon to be impoverished northern states. The best possible outcome here, is for entrepreneurs of small companies that make small, incredibly efficient cars to spring up like mushrooms on the rotting dung heap of the big 20th century American auto industry. Even better, companies from Detroit and Milwaukee that make high speed light rail trains, tracks, services, and all the rest. But I’m not holding my breath.

Advertisements