Dear LA Times Editorial Staff

30 August, 2008

Shut up.

The LA Times published an editorial outlining why they are against the big three auto makers getting federal help. Though the Times makes no real statement in the piece about the value of the bailouts given to Fannie Mae, Bear Stearns and others, they don't say either way. So the piece comes off like this: It's ok to give a bailout to wealthy corporations who lose millions/billions of dollars of investors money, but employ relatively few Americans, but that it's a waste of money to help Detroit.

U.S. automakers can't blame Washington for the fix they're in. And although it would be easier to prop up the aging manufacturers than deal with their collapse, it's not the right strategy. The flip side of being free to succeed is being free to fail. When government intervenes, it tells businesses that they don't have to be smart, far-sighted and nimble, they just have to be large.

Except when the big three go down Detroit and Michigan go with them. Does America really need that? Does America need the Michigan economy to get worse?

And don't get me wrong, in general the government shouldn't bail corporations out. But when they have money for investment banks they should have money for the companies that employ real Americans.