While lawmakers bartered over the terms and specifics of a proposed $700 billion bailout of the banking industry this week, a smaller bailout for the auto industry passed relatively quietly. Congress approved $25 billion (yes that's with a 'b') to help Detroit's big 3 auto makers retool their plants and finally come around to the green revolution the Toyotas and Hondas of the world started capitalizing on oh... almost a decade ago. Sweet.
Say it with me, powers that be, "Free Markets! Competition! Rah rah Rah!"
Oy!
1 comment:
Wow, I am ashamed to admit I hadn't even heard about this. I remember Romney going on about doing this during the primary. A true-free marketeer, that one. It's funny how government interference is desirable when it helps people who play golf with senators... obviously that is just a coincidence!
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