Bush's vow to rescue Detroit- Response

This article was somewhat outdated however, the publication date of the article I was taking information from was within the two week time period. I had yet to really focus on the potential auto bail out in my research and thought that it would be critical to my research to do so now and to be able to follow it as it progressed. These bailout will be extremely critical in how this financial crisis proceeds. With the deficit closing in on $1 trillion dollars, it seems as though now is no time to be bailing more companies out. However, this article offered some very interesting points as to how this bailout might help the recovery of the auto industry, and the US economy. I found it to be a very interesting idea that this bailout would provide the Obama administration with much more leverage over the auto industry than before. However, I find this to be a horrifying concept. There is no reason that the US government should have any more control over the auto industry than it should have over the computer industry, or the boat industry, or any industry for that matter. The US government has no place in corporate America other than to enforce laws and Constitutional rights. The failure of an industry is a sign that it needs to be reformed and the placing of such companies under more jurisdiction from the US government will in no way help the reformation of such companies. As stated in the notes, "Chapter 11 would provide an opportunity for these companies to reorganize themselves". This is exactly what chapter 11 was designed to do and it has worked out so far. That is, until the apparent relization that certain industries were too closely tied to the US economy came about. It seems to me that any industry that is that closely tied to the US economy needs to be reorganized as it is.