Tuesday
What's a windstar, anyway?
As I said about my link to the three act play below, not the whole story, but worth mentioning (image from here). In fact, I've mostly bought into the argument that this is an extraordinarily bad time to have all the increased unemployment which would come from a GM bankruptcy. On the other hand, once the choice is made to support GM just to get through one extraordinarily bad period, I worry that there will be a ratchet effect and we won't ever be able to go back the other way. I can't remember who I saw make this point, but one thing to keep in mind is that what's good in terms of keeping the economy from falling further off a cliff in the short term (keeping unemployment under control) isn't the same as what's good in terms of increasing the viability of GM and the rest of the Big 3 in the long term (restructuring and getting smaller, including large lay-offs). This means that if you support a bail out package because you hope it'll control the damage to the rest of the economy, you have to consider whether the bailout package under discussion, or one which could potentially pass, is anything like the one you support in principle.
