Wednesday, November 19, 2008

More on the auto industry bailout

Barney Frank just laid down the law about the auto industry bailout plan on Morning Edition, and said almost everything I was thinking.

Y'know, that we can give AIG $40 billion but we can't spare $25 bil for the largest manufacturing sector of our economy, that we shouldn't be using bankruptcy to undo union gains, that we shouldn't punish union workers for wanting fair wages and pension plans, that health care reform will reduce costs on the auto industry, and that with a bailout come rules on executive compensation and other fun things.

Man, I know way more about economics now than I ever wanted to and it's still not even close to enough.

Listen to Barney.