All the talk about bailing out the Big Three auto companies has left me with mixed feelings. As I recall the crappy vehicles they peddled to me years ago , I say no. As I think about the devastating effect on our economy, I say yes. If the latter, it should be done right. These are not people to be trusted. They are greedy, egotistical and and put their own welfare and that of their stockholders ahead of what is good for the country.
What to do? I think Thomas L. Friedman put it all in perspective in his Op-Ed New York Times article of 11/11/08, "How To Fix A Flat". Friedman advocates no blank checks to the auto companies. Any bailout should be based on tough conditions such as a new management team and board, together with a commitment to a business strategy based on conversion to fuel efficient vehicles on a timely basis. The government must strictly oversee the expenditure of funds.
To do less than Friedman advocates would be a betrayal of taxpayers.