The word bailout is a wartime analogy and brings to mind heroic crews fighting for their lives as their craft burns from combat. The term impies that the crew was brave and did all they could before bailing out. When it comes to the automobile industry, the “pilots” flew the plane into the ground. For decades the writing has been on the wall that we could not continue building cars that were burning through a non-renwable resource. On top of this a credit trap was laid for consumers, leading us all on an orgy of consumerism we could not hope to pay for. All the while the bankers and auto execs chortled as they hauled their billions to the bank.
Before any “bailout” money comes to the industry, these executives should be fired and the plants turned over to the workers and environmental groups. Then a way to produce what we need for transportation systems will become a reality.
For a great review of how we got into this mess, go to: http://www.truthout.org/111708C