The Death of a Bad Idea
Soon, the jobs banks will be closing, but Daniel Howes laments that it won’t stop the anti-Detroit sentiment flowing through Washington. And rightfully so, given his comment to the closing of the jobs banks:
Good, because that relic of a bygone era devolved into a rhetorical
club wielded repeatedly to beat Detroit’s automakers and the UAW.
The jobs bank is not a ‘relic of a bygone era,’ it’s a very bad idea to be paying people who don’t work. It’s this mentality that Detroit has to change in order to gain back the respect that it has lost. I agree with the rest of his commentary – the government is the last place to look for any kind of fiscal responsibility. And it’s hypocritical of Washington to scrutinize the books of the auto companies while giving a free pass to the banks and, soon to be, states. But, the best way to avoid this hypocrisy is to forgo the bailouts and let the market play itself out.
