Handout Hill

"You hear that, Mr Anderson? That is the sound of inevitability."
--Agent Smith (The Matrix)

The policy maker endgame involving the saga that is the auto bailout seems little in doubt. For bureaucrats linked to the union lobby, bankruptcy of Ford (F), General Motors (GM), or Chrysler is politically unacceptable. Bankruptcy laws provides more authority for revising previous labor agreements--something the UAW desperately wants to avoid.

It's easy to connect the dots.

Why is President Bush picking up the bailout baton? While he may not be connected to the union lobby, he is thinking about his legacy. He's willing to place these companies on life support so that they don't die during his watch. Let their ultimate demise be the next guy's problem.

The old Potomac Two Step.

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