Love Tom Friedman. He hits the nail right on the head again with a Scathing report on GM and the others. He has an excellent idea for what should be done IF the government decides to bail out the pathetic US automakers.
The devil inside me (or maybe just the free market capitalist) says let them fail, and use the taxpayer money instead to send the unemployed autoworkers to school, whether it be trade school or academic school. Or, better yet, let them fail, do nothing, and teach them all a lesson. The government cannot bail out every failed business and every unemployed worker in this economic cycle. It will probably be best for us to emerge from this recession (and ALL recessions eventually end) with true innovation and grit by both strong companies with innovative leaders and by resiliant and adaptable workforces. If we keep printing money for more and more bailouts, we are going to end up with massive inflation over the next several years. Remember we had inflation of 15-18% at the end of the 1970s. That's where we will be headed.