UPDATE RE OBAMA'S CHICAGO TEAM
It's the best thing that can happen to the country for America's big three auto industry NOT to be bailed out by Congress. It will enable a massive restructuring of debt, declaration of bankruptcy and the opportunity for them and many of their workers to be absorbed into the newer, lither companies who make better cars and actually turn a profit in the process. It also spells the continuing demise of the greedy auto unions who nailed their coffins with demand upon demand. Good for GOP Senators who did not let this bailout happen Thursday. Letting them fail paves the way for restructure and success down the, er, road.
It's also best for the country if Mr. Obama now gets rid of his top three senior advisers David Axelrod, Rahm Emmanuel and Valeri Jarrett all of whom hail from and grew up politically in the cesspool of the Chicago Daley political machine. That way, he can start his new administration without the stench drifting eastward across America from the current Blagojevich scandel. The Chicago Three need to go back from whence they came. Even before all the questions are answered. The sooner the better. Michael Reagan has more today at Human Events.
The answer to all the above questions is just let them go. Portions of the auto companies will be re-constituted and come back in a better form for the industry, the consumers and the workers.