Yesterday morning as I was walking out the door for work, I glimpsed G.W. announcing that he was bailing out the US auto industry with $17.4 Billion with what the cash, I suppose, was laying around to be spent on a rainy day.
According to most economists, this was the best move in order to stabilize our sinking economy, but I am still skeptical.
The only reassurance that I have is that this loan will be unscrupulously monitored, but even still I have misgivings.
Though this bailout is an OK way to spend the money, I have to ask myself is it the best way to spend a few billion dollars?
Sure this plan gives the auto-bigwigs time to restructure, but I can't see how rewarding the gross neglect of ingenuity and lack of foresight of trends and popular thought can move us towards a more economical way of doing business.
Whatever the case, it is a horrible way to exemplify free markets and capitalism which the country strives to protect.