So I spent a little time over the past day or two going through the recently released Automaker Bailout Bill, which apparently is to be called, the ‘‘Auto Industry Financing and Restructuring Act," or "AIFRA", as the cool kids call it. Lacking a password to unlock the original, and being way to unambitious to crack it, unfortunately I wasn't able to upload my annotated version, so lets go through this thing the hard way:
The Congress finds the following:
(1) A combination of factors, including errors in the business model of domestic automobile manufacturers...
What, what is this? A tacit admission that they dug their own grave? REALLY? Can someone else verify this is, indeed, the FIRST finding? Right there, up-front, fo serious?
Sigh, for a brief split second there I actually thought Congress would make the causal connection between clause #'s 1 and 3.
I think they mean "...the failure of which..." but I'm sure they were up very late and weren't overly concerned with proper grammar, not like its going to be written in stone or anything. (And to think some presume the "Anal" in Anal_yst is some sort of perversion as opposed to my 'I blame it on My Jewish Mother' anal-compulsiveness, but I digress.)
(2) to ensure that such authority and such facilities are used in a manner that -
So I see we're getting right to addressing that overcapacity issue...
Oh, golly, I bet this'll be about as effective as CAFE...
Just when you think they've missed the point completely, BAM! they come back and show you they really mean business this time!
Contrary to many-a-moron who's misread me recently, I'm acutely aware we can't just offload GM's obligations onto the PBGC (etc), but why not, as in the case of a reorganization, allow the Big 3 some leeway to modify some of the more ridiculous commitments. Sure, the beneficiaries may bitch & moan that Detroit is going back on their word, but wtf, if mortgage borrowers can guilt the Gubment into forcing banks to modify their failed contractual obligations, why can't the Big 3 do it? Alas, very nature of the slippery slope continually evades those in question...
And, finally (all the way from the bottom of page three of thirty one):
E) results in a viable and competitive domestic auto industry that minimizes adverse effects on the environment.
(If anyone's actually interested, I went through the whole
bill draft, lest you think I passed-up on the opportunity to
simultaneously rain down upon morons in Washington, Detroit, and
wherever the hell the organized labor people hang out. Drop an email email@example.com)