As most of you know, the congress is considering a bailout/handout for the auto companies, to the tune of $15 billion.
General Motors, Chrysler, and Ford are cashing in big on this deal- each of them petitioning the Fed to give them money! Their biggest allies- the Democrats, predictably- are pushing for this bill to pass the house as quickly as possible.
Beyond this, a provision is being made in the bill to allow the President to have unlimited 'dip-in' powers to get as much as he needs from the treasury to cover any future needs of the auto companies! To put that in perspective, GM has stated that it would like- and 'needs'- at least $15 billion, and Chrysler could sure use an extra $4 billion in it's coffers!
Didn't Washington learn it's lesson the first time? *raises glass* here's a toast to monumental economic stupidity!