Bush Big 3 Bailout: Nope, It's Bad

It's nothing more than an expensive bailout.

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This IHS Global Insight analysis tell me all I need to know about President Bush's automaker bailout. You know those tough changes and goals that the UAW will have to meet? Turns out, not so much :

These targets are nonbinding however, and may be adjusted if the automakers can demonstrate a business case as to why they should be changed.  ... This is a band-aid for the auto industry; the amount of money being loaned to the automakers is insufficient to see the automakers through what is shaping up to be a worst-case sales scenario in 2009, and is less than half of what the automakers requested in congressional hearings earlier this month. In essence, it is a $17.4-billion football that the Bush administration is punting to the incoming Obama administration, allowing Barack Obama and his team more time to formulate deeper plans that will loan much more money to the automakers.