So, some federal legislators are balking at the auto industry bailout-far more than the financial bailout. They're saying it won't fix the system.
If so, why did so many of them think the financial bailout would work? Shoot, I remember reading in the NYT a few weeks ago that most banks were taking the money and rather than using it as intended to unthaw the credit market, just sitting on it.
Worse comes to worse, this money, even if it doesn't "save" the big 3 would at least be spent, providing middle class wages for tens of thousands of people in a time of tremendous doubt.
To me, that makes the auto bailout sound even better than money in a bank.