A Black Hole for Christmas? Why Thank You, Congress

December 12th, 2008 by Sara

Could a bailout to GM and Chrysler have prevented near certain failure of those companies by month’s end?

Now a moot point, along with questions such as, “Who’s to blame for the industry’s current state?”

A group of Republican senators decided that it was more important to nix the whole deal over whether GM’s unionized workers take benefit cuts now or in 2011. Never mind the lifelong, no-strings-attached, top quality health care that each of these Senators receives.

What do they know that we don’t, is what I’d like to know.

If these companies fail, which they and experts say will happen by month’s end, the tsunami effect of all of those industry layoffs (auto makers, dealers, and parts suppliers) is going to hurtle back and, if not swamp, than surely waterlog (sorry, carrying this analogy too far) the foreign-owned auto manufacturers that populate their home states.

I’ve got three words for you, Bob Corker: Up in 2012.