Congressional Democrats have unveiled their latest bail-out, a scheme that manages to be both cynical and foolhardy at the same time.
With 54 percent of Americans opposed to handing over their hard-earned money to three of the nation’s biggest corporations, Democrats and the White House have decided to bilk us slowly rather than quickly, with a $15-Billion loan to the Big Three now, and, well, who knows how much later? As of this writing, the White House is pushing for changes in some details of the taxpayer shake-down.
The scheme calls for a “car czar”, appointed by President George Bush XLIII, the guy who appointed Hank Paulson. This person would “manage a vast restructuring of the firms and restore them to profitability”.
Methinks somebody’s been inhaling too many gas fumes. About the only person less worthy to manage the auto industry than the current crop of CEO-Whiners is a federal bureaucrat.