Late last year I wrote to you about the 'Big Three' coming to Washington seeking $25 billion in federal bailouts and loan guarantees. Many of us were concerned about the government being too willing to offer its 'helping hand' and, as it turns out, that was for good reason.

Since that time, the Obama Administration has not only bailed out GM and Chrysler, it has essentially taken them over. The Administration awarded the United Auto Workers Union a significant ownership stake in both companies...
Continue reading ...