Bush had a wonderful opportunity to straighten out the car industry, but instead signed out of his administration by lending billions to the big 3 incompetents on two conditions.
First, they are supposed to pay back the loans. Duh! Isn’t that what a loan is?
Two, and by March 31st they must come up with a plan. Double DUH!
The pentagon spends all its time writing plans for different possibilities. I know because I worked on some of those plans in my youth.
Apparantly the executives of the big three in Detroit have never heard of contingency planning, and need the President and looming bankruptcy to consider planning.
But then, the lack of planning is how our auto industry got in this mess.
Goodbye George, and why can’t you take the CEOs and Directors of the big three out the door with you?