A Right Step

The announcement this morning that the White House had rejected the restructuring plan submitted by the automakers is, in my opinion, a good move. Again, I am not a trained economist but it doesn't take much training to know that there was a lot of wasteful practice in Detroit - does everyone really need to buy a new car every three years, especially if said car is clunky, fuel-inefficient and not an object of any particular beauty? An orderly - and I can't overemphasize 'orderly' - dismantling is the right thing to do.