November 19th, 2008

die now

$74 an hour, my ass.

The proposed bailout of the Big Three automakers has been getting a lot of attention in the blogosphere and on talk radio, unsurprisingly. Mitt Romney had a very thoughtful op-ed in the NYT that called for the automakers to be forced into Chapter 11, which echoes a lot of what I've been reading in conservative & libertarian blogs. (Summary of all that here, if you like.) On the other hand, pro-bailout folks mostly seem to make the argument favored by Katie Granju, that the main reason Republicans are in favor of the Chapter 11 option is that we're a bunch of meanies who want to break the UAW.

Well, when the union is forcing the companies to do stupid crap like this, hell yes! (BTW, I'm aware that the union has grudgingly made a few concessions of late. Too little, too late, you greedy bastards.) Besides, as Granju somehow managed to avoid noticing, Romney also called for the existing management to be driven into the wilderness and replaced by people who actually know how to run companies so that they make money. This would require Congress to get rid of some dumb laws (like, say, the CAFE requirement, and the notion that Fords built in Europe and Brazil can't be counted towards those standards) but unfortunately I doubt Congress would do that since their buddies in the Sierra Club would scream like banshees.

In the end, I suspect that whatever the lame ducks do in this session will just get ignored or re-written by the next Congress, and the result will be one that nobody is happy with, but then I'm a pessimist.

(Via Ace)
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