Congressional Intervention Will Only Delay Inevitable

The "Big Three" automakers are some of the worst-run businesses out there. I've long said that if any business ran like the federal government, it would fail... well, those three get awfully close to the cronyism, careerism, and nepotism that the fed is known for (elected or bureaucratic). And they're failing under their own weight.

Now they're asking the fed to float them my cash and your cash so they can continue to operate as bloated, irresponsible organizations.

Absolutely not.

The economy is in bad shape. Bankruptcy by any of them would be a bad thing. But there is no reasonable expectation that an influx of taxpayer cash will make things better, because there is no expectation that they will improve their business practices (The UAW bears at least half the blame, make no mistake). They will be forced to reorganize and operate by market principles and produce a superior product and function properly if they know that they can fail and will not be saved by Uncle Sam. A bridge loan will reward their very poor business practices and signal that they can continue operating like that because they have no incentive to improve their ways.

Socialism removes the motivation of workers to work harder or try to get ahead by outperforming competitors. The same holds true for corporations.

It'll hurt for a time, but please, for the love of Adam Smith, no bailout.