The Big Three automakers are going back to Capitol Hill this week to beg for a bailout.
There is nothing they can say that will justify throwing taxpayer money at them. Even if the government could "turn a profit" on the deal by taking an equity stake in one or more of them, there is no way we should allow the government to buy up more companies in the name of stability. Just like when Joseph in the Old Testament taxed the Egyptians twenty percent of their grain and sold it back to them in return for their freedom, we will all be slaves when the government figures it can buy up businesses.
Some of the resources tied up in the car companies are misplaced. Delaying the realization of that fact costs us all money. And it might wind up costing us more than that.
