At last, a (choose one of: plan|bailout|rescue|giveaway) for the American auto industry emerges. It's just a bridge to March 31, but at least the problem was punted into the Obama administration, instead of being allowed to snowball into "disorganized" bankruptcies and possible destruction of the sector.
Just to review, sales across the globe are plummeting. Canada, Spain, and Sweden have announced plans, while France, Britain, and Germany are considering plans. Japan will continue providing aid via currency intervention.
Why so many Americans insist the country be a free-trader in a world of mercantilists continues to baffle me, especially since the results are not good for the country.