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I posted this over at Jack Lessenberry's place in response to the emotional-laden tripe he has been writing in support of a Little Three bailout:
"hard stuff, hard choices, hope, blood, tears, toil, sweat" ... blah, blah blah. Hey Lessenberry, for all of your coverage on this, how 'bout the Little Three's balance sheets? Ya ever read them, along with their financial reports and disclosures? Why not? Instead of fuzzy rhetoric and painted smiles on words, how about addressing the $60 billion in NEGATIVE equity of GM? Do you even bother to understand the financial condition of these failed behemoths? What does a "plan" mean when the company is insolvent? Here's a start for you:
Lessenberry is a local Detroit Marxist journalist for the alternative weekly, etc. His writings and talk show stuff on the Detroit auto bailout are totally void of substance. None of these guys bother to understand the financial condition of the companies they are claiming can be saved. Just for laughs, in this god-awful piece, Lessenberry, who continually calls for a new New Deal, raids Michael Moore's empty closet for a cloak of intelligence:
Michael Moore, who manages to be both brilliant and crazy, sometimes in the same sentence, posted a solution on his website: He thinks the government should buy the Big Three, and force them "from this point forward, to build only cars that are not primarily dependent on oil, and more importantly, to build trains, buses, subways and light rail." Meanwhile, he would create a "corresponding public-works project across the country," to build rail lines and tracks. That is intriguing, and may happen someday. But not yet. Even if we had a government and a population intellectually ready for that, it would take some time to get there.
Over at the Bluffington Post, Moore says, "And it [the government] must save the world from the internal combustion engine. This great, vast manufacturing network can redeem itself by building mass transit and electric/hybrid cars, and the kind of transportation we need for the 21st century."
