Bailouts that don't bail out.

Looks like the Senate is looking at a $15 bil. "bridge loan" for the ailing auto industry.

Oh yeah, that's effective.

Compromise is great and all, but not when it will be completely useless.

I can't even tell you how many times I've hear people say things like, "Oh, this money would just delay the inevitable bankruptcy to come. (regarding the asked-for $34 bil.)"

Well, that seems to be exactly what this $15 bil. will do. Sure, we might be able to float G.M. until February, but what then?

This is about the equivalent of giving a homeless guy a couple thousand dollars and telling him to get his life on track.

Here's how the conversation would play out:

Senate: Hey homeless guy, we know your down on your luck. We know you've made some poor choices in the past, but a lot of us want to help you out.

Homeless Guy (we'll call him Rick): That would really be great! I'm pretty sure I'm going to starve to death in the next couple months without some kind of help.

Senate: We know you really need something along the lines of $25,000 to get yourself a place to stay and time to clean yourself up, maybe take a couple workshops or online classes, and find a job, but we've decided to give you $2,000 now and then check up on you in a few months to see what progress you've made. Frankly, we can't even promise that you'll get any more money.

Rick: But if I use the $2,000 to get a place to stay and turn my life around, I won't have any money to buy food - I might starve by then. And how can I know how to use the money if I don't even know if you'll help me in the future?

Senate: That's a risk we're willing to take.

Rick: Umm...

Senate: Of course, some of us think it would be better for you to lie in a gutter and restructure.