From our friend Michael Moore about the woes of the big three auto makers:
"Let me just state the obvious: Every single dollar Congress gives these three companies will be flushed right down the toilet."
I'd agree with Michael for once, but he recommends that the government buy all the outstanding shares of GM - currently at a bargain of $3 billion dollars and take over the company. Bad Idea. The government is really bad at running any business.
Instead of the $36 billion dollars bailout, let's spend $3 billion to buy the company and give it to the UAW. That way we don't have to hear the UAW whine about how all the problems of GM are the result of bad management. The UAW could show the world how it could build quality cars just like the Japanese.