In case you needed more reasons to hate yourself for being an American (or conversely, pat yourself on the back for being Unamerican or otherwise located) here’s a good one. A massive bailout of our shitty, polluting, outdated carmarkers could be announced as early as today:
A government bailout for automakers was being assembled as quickly and carefully as possible, Treasury Secretary Henry Paulson said on Tuesday as a new ratings report showed that bankruptcy was the most likely restructuring scenario for the industry.
“The automakers will get the money as quickly as we can prudently do it,” Paulson said in interview on CNBC television. “We need to do this but we need to do it right.”