Joe Conason writes a New York Observer article entitled, "A Ruinous Bias Against Helping Detroit." Mr. Conason states:

But it is ironic to think that the Bush administration and Congress would swiftly appropriate hundreds of billions of dollars to save the same firms whose stupidity and criminality drove the economy down—while begrudging a far smaller amount to a major industry brought to ruin by the financial crash.

As each Wall Street bailout receives approval, with or without appropriate conditions, we are assured that the risks of bankruptcy are simply unacceptable. If American International or Citigroup went down, who knew what hell might break loose? There was some merit in that argument. The truth is that we are just as ignorant of what destruction will ensue in the broad economy should government allow auto to go broke. If and when that happens, the opinion polls will shift overnight. But it will be too late.

Read the whole article here.