G.M. Bailout is Wrong
I think that the proposed bailout for General Motors is all wrong, and I am not even a "free-market" hump.
One problem is that the $25Billion being proposed for GM will be gone in about 4 months, and they will be back at the trough in spring.
The Big Three automakers competitors in North America have wage costs that are half of the bloated UAW wage costs. Many people would be glad to have a job that pays what Toyota is paying.
The bigger problem is that it will encourage GM to continue to build the same products that people do not want, and that are all wrong for the current state of the world, especially as concerns emissions. There can be little doubt that the oil corporations also love GM's gas guzzling vehicles, and that there is almost certainly collusion between these two giant industries to continue in the old ways.
Giving $25Billion to companies such as Zenn - the Canadian electric car maker - would be a stimulation that would see the new technologies become the forefront of our economy. Thats the direction we need to go, not pour taxpayer money into the obsolete behemoths such as G.M.
Moving to a renewable energy and electric car
economy will be a major shake up for sure, and it will not be painless
see GM collapse, but these are times of change, and if we do not take
steps to make those changes we will simply find ourselves on the scrap
heap of history.