The Atlantic’s Megan McArdle has been tackling the proposed auto bailout like a champ. Here are just some of her contributions from the past week: On why Congress can’t fix Detroit: Indeed, a bailout will mute the one thing that sometimes does turn around dysfunctional management: the shock value of …
In the video below, Sen. Carl Levin (D-MI) describes the inevitable bailout of the auto industry as “a bridge to the future.” [youtube]http://www.youtube.com/watch?v=3w8jEKoX5-Q[/youtube] A “bridge to nowhere” is more like it. As David Brooks notes today: Not so long ago, corporate giants with names like PanAm, ITT and Montgomery Ward …
The communists that dethroned Czar Nicholas II were the first to implement “central planning” but President-elect Barack Obama is doing his best to match both the czar’s and the communist’s commitment to autocratic style. Just this week alone there have been reports of an auto czar, an energy czar, and …
From the front page of the NY Times: The prospects of a government rescue for the foundering American automakers dwindled Thursday as Democratic Congressional leaders conceded that they would face potentially insurmountable Republican opposition during a lame-duck session next week. “ The 60 votes necessary to pass the bill in …
On Nov. 9, the communist Chinese government announced a $586 billion economic stimulus plan that party leaders hailed as a “New Deal” for the people. Here in the United States, a supposedly “conservative” administration has already enacted $333 billion in “emergency” spending bills and another $105 billion in tax rebate …
According to reports, ailing U.S. automakers are already lobbying the Obama transition camp for a taxpayer-financed bailout, and they’ve turned up the dial on doom and gloom in recent weeks to make government action appeal all the more pressing. General Motors, for one, says it will run out of cash …
According to the latest news, the only obstacle remaining to complete a merger between General Motors and Chrysler is $10 billion in taxpayer money. Jui Chakrovorty Das and Kevin Krolicki detailed that GM and Cerberus Capital Management, the owner of Chrysler “have resolved the major issues in a proposed GM-Chrysler …
