So desperate for a government takeover of the U.S. auto industry, some on the left are now stooping to borrowing rhetoric from Vice President Dick Cheney to make their case for the bailout of Detroit’s Big Three. Commenting on Cheney’s warning that “If we don’t do this, [the GOP] will be known as the party of Herbert Hoover,” The Washington Monthly’s Steve Benen writes:
The Neo-Hooverite caucus apparently seems willing to wear the label with pride.
Well let’s just see who else, besides conservatives, has called for the auto companies to go through Chapter 11 instead of receiving a federal bailout. Let’s start with lefty hero and Stanford law professor Larry Lessig:
I’m willing to be persuaded that intervention is necessary there. But the more I read about the auto industry, the less I am convinced.
People speak about this as if not bailing out Detroit means automobile production in America ends. Continue reading . .