You beat me to it I'm skeptical too. Could be an easy pay-day for Congress and Wallstreet who're just gaming the drama. As for creative destruction - man, there's a FLOAT-TILLA of siphoned capital laying dormant, probably in Treasuries. Crazy. Hopefully the Unions get axed and banished, then for sure, we're gonna see another Great American Car company rise outta this. If they really let 'em fail, new management is gonna be super proactive to innovate what people want, given their predecessors spectacular blow up. Good things can and will come from this folks. Exciting times. Except we're probably gonna go under martial law before that. Ouch..
The UAW put their foot in their mouth this time This time it isn't necessarily going to work out for them...the government is going to call their bluff...no deal, if any, until the new year. Even then, I would be opposed to it under just about any circumstances.
An era of electric cars... Now we need nuclear plants.. Maybe this new energy secretary is the right pick. Much better than some corrupt bribed oil guy (bodman?)
This sort of reminds me of when Reagan fired the striking air traffic controllers in the early '80s. They were replaced and didn't get their jobs back. However, in this case, I expect Bush to give in and tide them over with the tarp until the Democrats get in control, so that the Dems can get "full credit for saving the auto industry in America"......we will see how that works out for them. Stosh
I don't believe the TARP plan that Congress passed has wording stating that the money could go to auto companies.