Bridge To Nowhere?

Detroit was always going to get something. It’s never been a serious question. Only how much on what terms.

A transition bridge loan for the political transition appropriately is lowest common denominator thinking from exhausted and discredited political and economic elites. Whether even this truncated gesture actually serves a viable purpose beyond symbolism is material for rubes and cranks.

muddlingthru.jpg

We are now given a new Commissariat for Heavy Industry (called here the Oversight Board consisting of cabinet secretaries) to oversee the top to bottom industrial planning in the auto industry (calling alleged ‘favorite’ Ken Feinberg’ — Кен Феинберг — a ‘czar’ shows pure historical illiteracy). It is still amusing to see the Duma and talking heads to posture and preen demanding ‘tough conditions’, wage concessions, ‘punishment’ for incompetent management, etc. All irrelevant to the financial/Wall Street boondoggle beneficiaries of outright gifts — not loans. Hell, the U.S. Treasury, just like Paul Bremmer in Iraq, can’t even account for billions of dollars they presume they dispersed, they’re just not sure to whom or when. Today it is the automobile industry but one can already see other industrial sectors learning lessons and preparing their dog and pony shows for 2009.

Then let’s not forget what’s looming — the Boy King’s infrastructure plan coming in at around $500 billion (more likely a trillion) and the Duma’s separate $500 billion stimulus. Oh. And Gregory takes over Press the Meat. OK, not so much. But the bars will be open 24 hours. You got to take em when you get em.

Comments

  1. DrLeoStrauss says

    Today cable producers’ heads must be exploding — three juicy narratives they could ordinarily milk for 10 days stepping on each other — Blago, the baby tragedy in Florida and cars (although cars show a bunch of ugly white men whereas Blago has his bitchy wife and the baby — ’nuff said).

  2. Comment says

    You’re right about cable, but this won’t touch Obama’s polls – He’s too different stylistically than Blago and since Fitz basically cleared him, there’s probably no there there. We think it will net out a political plus for Obama a few years down the pike.

  3. Dr Leo Strauss says

    Unfortunately for the Boy King, Blago’s very silliness makes for good 24 hour cable news gabbing. Everyone can relate to someone so comical. It’s not some arcane land deal in Arkansas with some billing records from an obscure law firm.

    So even after today’s transition press conference, cable news keeps underscoring ‘this will not go away.’ They can’t allow it — they need the narrative ride for ratings.

  4. Comment says

    Blago’s corruption is funny in the sense that it was absurdly unsubtle. It would be a less than a B movie if it were a greenlit script..

  5. Aldershot says

    Modern times, indeed. Nice image, Doc.

    People seem unimpressed with Gregory for ‘Meet,’ but I at least appreciated his lack of bias on ‘Race to the White House.’

  6. DrLeoStrauss says

    Rush today on the first report on the breaking news did overlook Scootergate and focused on the Dem corruption angle.

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