Stop Handing Out Money With No Strings Attached

So it looks like the auto giants are going to get another bailout.

They say they desperately need another bailout.

Nancy Pelosi says they deserve another bailout.

GM just lost $2.5 billion.

The others aren't looking much better.

Which is why they're so bitter.

And why they're in Washington, looking to barter.

"You give us the dough, or more jobs will go."

So it looks like we're going to give them more dough.

What amazes me is that we're giving it with not a lot more conditions.

In fact, darn near no conditions.

Which is weird.

You'd think if you're giving a group that much money, you'd at least politely ask they spend it well.

Here's what I'd do:

"OK, we'll bail you out. But here's what you have to do."

"Resign."

"Each and every one of you chief executives will have to resign."

"Obviously you screwed up, built too much of the wrong cars people didn't want and too few of the real cars people did want."

"So, here's what we don't want."

"You."

"Submit your resignations now."

"And understand that you're not entitled to any bonus or golden parachute on the way out."

"Now, just sign here."

I wonder what would happen.

I wonder if they'd still want that bailout.

I wonder if any begging industry CEO would.

Maybe we wouldn't see so many hats in so many hands.

Maybe we wouldn't see any hat in any hand.

Or maybe we'd be pleasantly surprised, that for the good of their company, they'd leave the company.

Bailouts are dangerous, not only because they absolve companies of their responsibility, but the very CEOs responsible for the mess from claiming any responsibility.

So, if we're to go this maddening route, try this mad idea.

Anyone can come begging to Washington to save jobs, as long as they understand the first ones they'd lose in the process... is their own.

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