Bail Out credit Markets, Not Auto Industry Managers

This week, the Big Three American auto manufacturers will try a second time to request government assistance. The biggest issue facing Congress is whether it has to swallow hard and bail out management teams that no one seems to like in order to avoid the loss of a lot of jobs. The industry's leadership does not inspire confidence, and this major failing does it great harm in an hour of great need. Meanwhile, the real problem is that credit has dried up, and consumers are not eager to buy fuel-inefficient cars.