Is there anyone out there who didn't get a warm populist thrill watching the Congressional committee members skewering the Big Fat Three for coming to Washington in their separate corporate jets? Is there anyone out there who didn't catch on to the fact that this was showboating, that before Congress would dare lay another layer of goodies on these reprobates they'd have to punish them for something? Just for show?
There may be good reasons for saving the US auto industry in spite of its greed, stupidity, and lousy business plans. Congress has figured it out: hit 'em first in public, demand new business plans ("we promise we'll be good this time"), and then give them their $25 billion.
So just when you think some CEO's are finally going to feel the full force of the wrath of their customer/taxpayers, they'll get bailed out. Don't you think? Just like in the fairy stories, the heroes who want the goodies have to answer three questions: "How will the $25 billion be spent and paid back?"; "How will the automakers demonstrate their accountability?"; and "Is the industry viable?"
If those were exam questions, we could already hear the scratchy sound of bull**** being written into the blue books.
