Styrofoam

The bailing of the big three looks to be eminent.

I read the other day how many homeowners who have been 'rescued' -- that is, they found a way to renegotiate their deals, etc. -- end up defaulting anyway. Even though these jokers hapless victims staved off massive rate adjustments, many now are losing their jobs...so the end result is the same. Default.

Now as the gov'ment is set to throw borrowed cash at Detroit, it's at least plausible that they will still default farther down the road. Restructuring or not, if they can't sell cars to people who can't buy them because they're either in debt from neck to nuts or they're out of work... the end result is the same. Default.

Two things about this bailing really, really pisses this Monologueonian off -- 1) by March 31, the big three are supposed to "submit detailed plans for profitability producing fuel efficient vehicles that can succeed in the marketplace." and 2) dropped out of the bill was a provision that would have barred Detroit from pursuing lawsuits from states trying to implement tougher emissions requirements.


Detailed plans. Tell me how, exactly, how! will fuel efficient vehicles be profitable in a nation of moronic NASCAR idol worshippers when gasoline is a buck a gallon? Without a coherent NATIONAL ENERGY POLICY that sets a floor on oil prices or otherwise encourages conservation, why the fuck would anyone want to buy a fuel efficient Detroit.hybrid at a premium when they can get a Dodge SRT-10 truck that shits and gits? For that matter, why would anyone buy a Prius at a premium when a gas-only Camry accelerates faster?

Funneling borrowed money past the event horizon of this fiscal black hole is one thing, but that a portion of our tax dollars will be used to finance automotive lawyers' pursuits to keep state emissions requirements (read:fuel efficiencies) lower is unbelievable. Totally unbelievable. The detailed plans that they will submit, I'll bet you, would then be pinned upon "favorable judgements regarding state emissions litigation."


Therefore, I am hoping to see a large chunk of this nation's future wealth squandered in a bill that's the equivalent of drilling another hole in the boat to let the water out. I don't see this as a bailout, it's just bailing with a Styrofoam cup. I'm hoping the boat sinks with our money in the bilge. Then perhaps we'll learn not to loan out Styrofoam cups to any more sinking ships.