Dancing Monkeys Sell Union Votes to Congress

Comical and vaguely unsettling at the same time to see the reduction of American Capitalism to this scene.  “Captains of Industry” driving 10 hours in tiny wind-up clown cars for an opportunity to exhibit greater meekness and contrition before Congress and the American people; neither of which can apparently do basic math. If Alan Mulally makes $20 million a year, the extra 6 hours it takes him to drive to Washington costs the shareholders ( remember the shareholders ) about $60,000. It’s the same kind of logic that makes it okay for Pelosi and Reid to pour $34 billion down the Detroit drain if only the executives are solicitous enough. If they dress up in big clown shoes and wear a dunce cap, can they get more cash? Somehow this self-flagellation is all the political cover needed to compensate for “business plans” which involve taxpayers contributing billions while the automakers keep doing the same thing for a few more months.

Behind the silly stunts and play acting this is a serious high stakes deal in which the Congress is spending money we don’t have to buy the loyalty of misinformed and misguided union voters. The American automakers are bankrupt now not because of the economic downturn but because they are bad businesses. We are not going to right the American economy by artifically animating dead businesses.