Why does Congress want the Big 3 to fail?

That was a great post.

Can I ask you a question or anyone for that matter?

When was the last time that you saw anything with the slogan, "Made in the USA, or Made in America?"  I mean that was popular in the 80s when I was growing up but when you look today.  Is there anything really made in America?

With the auto industry destined to crash and burn.  Will any other things survive that are made in the USA?  Congress is being stupid and they should rethink things with out there pockets being lined by their lobbyists. 

I was told that I was too close to the situation when I tried to discuss this with someone that lives in Boston.  They think that because they have had failed business practices that they should fail.  Well if they fail then 3M jobs are lost and where are those jobs going to go?

OK.  Terry and Larry got me on a rant.

Congressw is trying to hide what they did. Their actions led directly to the crash of Freddie and Fannie and the resulting credit crunch. From there people were having trouble borrowing to buy cars and the auto companies are having trouble with their own borrowing. Add to that regulations that make it very expensive for the automakers to do business, the crunch was going to come, it was just a matter of time.

Somehow it is more effective and efficient for highly compensated executives to drive 12 hours to Washington, instead of an hour via their private planes?

I read a great op-ed about this topic (although I don't remember where).  Congress got a lot of backlash over the financial bailout because there was no immediate positive result.  Scrutiny is now even higher so, although it may be reasonable to extend the bridge loan, public outcry makes the politicians drag their feet. 

The higher level of due diligence should have been spent of the financials first; then precedent could hve been set.