Auto Bailout Band Aid
The Plantation Caucus was temporarily outmaneuvered (no car-czar, no binding concessions until Obama takes over) as the White House pumped enough cash into GM and Chrysler for them to keep the doors open a couple months — with the added benefit that maybe GMAC (through which the funding will flow) will have enough capital to make some car loans to all the folks who want and can afford to buy cars but were turned down by all the other banks that stole TARP money.
I’ll probably have a lot more to say about this, like the idea that this was more like a “take it or leave it” offer than any kind of negotiation. Meanwhile I’m back to digging out from last night’s ice storm. I’ll just note for now that not every conservative hates this “deal.” Professional Bush apologist Hugh Hewitt, consistent with his lap-dog personality, is positive Bush did exactly the right thing in exactly the right way at exactly the right time because, well . . . it was Bush after all who did it.
Excuse me as I go and rinse the bile out of my throat. On the bright side, since most of the right hates this thing (here’s a typical example, and I’m watching Larry Kudrow on CNBC lose his mind), it must be a great thing.
