Pouring Fed money into the car-makers of Detroit is tempting. ++ If they slip, “a myriad” of other companies depending on them will fall. ++ But if the Fed bails out car companies, credit card companies will come begging, after which come “makers of dog polisher and electric banana straightener.” ++ A bail-out will commit the Fed to spending more if $25bn turns out not to be enough. ++ “Before
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General Motors is on the brink of bankruptcy with Ford and Chrysler not far behind. ++ The government must bail out the auto industry as hundreds of thousands of jobs are at stake. ++ A gas tax is the answer. ++ Gas prices should be set to $3.50 per gallon with a variable tax adjusted according to the real gas price. ++ This tax could revenue $17 billion in one month, $140 billion in one year,
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