"It's Not Your Money"

Yes it is Congressman, it is my money.

And the car bailout will fail.  As Romney wrote in his op-ed in the New York Times on Tuesday, Detroit needs to go bankrupt.

As he says, if Detroit isn't forced to revisit it's business model, it's cars, everything ... they will continue to fall behind in comparison to their foreign competitors.  They are strangled by the UAW and their unwillingness to change and face the world as it is today.  In today's world, pensions are a thing of the past.  In today's world, Toyota is the market leader.  In today's world, American's don't want the same old design with less features than they can get in a foreign model, for less money.

I hate these bailouts.  I hate the fact that American Express is now a bank holding company and are going to get a piece of the pie.  I hate that all this is going to do is secure us forever in a nanny state.  Businesses are meant to fail.  We have chapter 11 just for this purpose.  So businesses can restructure, start again, come out swinging.  The airline industry had to do this, what makes Detroit so special?

We have to stop this insanity.  Now.