The Third GMAC Bailout

Barack Obama will bail out GMAC for a third time.

This is necessary, Barack Obama thinks. Otherwise, UAW unionists might lose their jobs.

This is necessary, Barack Obama thinks, because otherwise people with bad credit could not buy cars they could not afford.

This is necessary, Barack Obama thinks, because otherwise Ford  (which has not been bailed out) might gain market share.

This is necessary, Barack Obama thinks, because otherwise people might buy foreign cars.
The third GMAC bailout combines corrupt politics, economic foolishness, socialism, and protectionism.

It is typical of the economic policies of the Obama administration.