It's not immediately clear which of the following the Republican's scuttling of the auto bailout deal falls under:
A) Rank self-interest in giving an advantage to their foreign-owned auto industry in Southern states.
B) Pure political obstructionism and a long-term strategy to destroy the economy, and with it, plan a political resurgence for 2010.
C) An attempt to break the unions (while opening up the wallets for Wall Street managers parachuting out with taxpayer billions).
D) A genuine "enough-is-enough" feeling of capitulation for any more bailouts (since Wall Street is coming back for more, this one seems highly unlikely).
E) Hard-ball negotiating from a genuinely commonsensical business equation that unless the credit burdens of the companies are better relieved, the bailout is a waste of money.
F) An attempt to structure a deal that is closer to a government managed bankruptcy, that effectively restructures company obligations and allows a working corporation to emerge.
G) All of the above.
While E and F are commendable, D is laughable, A is typical political corruption, C is detestable, and B is...dare I say...borderline treasonous.
If it's G, all of the above - well, all I can say is, I hope this gambit works: because if the economy gets much worse, I wouldn't want to be them.
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