Auto Makers Force Bailout Issue - WSJ.com: "The auto-industry crisis is forcing a broader debate over how far the government should go to prop up ailing industries, as the Bush administration resists Democrats' request to use part of the $700 billion financial-rescue fund to aid Detroit's three struggling car makers."
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I see a big difference between bailing out financial institutions and auto makers. The former were basically solvent until recently when the housing market crashed and a series of unusual events occurred. Yes, they made mistakes, but they were functioning in their market. The auto makers have been in trouble for at least 35 years due to their high labor costs (that they contracted for with the UAW), consumer dissatisfaction with their product, and other things that won't change if they get money from the taxpayers. I can see the financial sector making a comeback. I can't see the automakers doing that. So it seems like just giving money to these companies so they can keep paying their workers for a while longer, so they can build some more cars that don't sell particularly well (to the people who bailed them out), and then in a few more years they will be back for another bailout. Maybe instead of the taxpayers bailing them out, Americans could just buy their cars. I drive a Ford Freestyle myself, and I consider that my contribution to the bailout.