First banks, now automakers to be bailed out – America or socialism?

The US administration is negotiating over a $ 25 billion bail out of the US auto industry.  This is an oligopoly that has refused to adapt to the market, failing to develop alternative fuel solutions, improve efficiencies or educate consumers.

Chrysler, Ford and GM may be bailed out, to avert massive job losses, though it is almost a moot issue as Citigroup lays off 75,ooo, 23,000 this year and 52,000 next.  And shouldn’t it be the oil companies, like Exxon, that puts up the cash after all, that is the company reaping the reward of consumers addicted to oil and their big cars, and they have the cash.