It’s striking how inept Reid and Pelosi appear on this issue. The Bush administration isn’t helping matters, but someone needs to take leadership here. Obama is trying to stay on the sidelines, but at some point he needs to speak up and take a strong position.
Meanwhile, the stock market is cratering on the news that a bailout deal has not been reached.
Everyone here is playing with fire. This is not about the auto companies, the unions or whether executives came to Washington on private jets. This is about a fragile economy that could fall into chaos if GM goes bankrupt. Nobody knows precisely what would happen, but taking that risk seems insane at this point.
Someone needs to start actng like a grownup here.
