Obama wasn't my pick for President; however, he appears to be very intelligent. Unfortunately, until he takes over next year, Nancy Pelosi is leading the charge on the auto bailout and a "new stimulus" plan. According to today's Wall Street Journal, she made the following determinations:
- She determined bankruptcy was not a good option for the auto bailout. We are going to give the auto industry something like $50 billion and are not going to force them to fix their debt/retiree benefits problems.
- She has determined the "new stimulus" plan needs to subsidize internet access. Can you say gift to the telecom industry?