Obama’s Inauguration to Stem Automaker Losses

Here’s a bizarre sentiment expressed by Michigan Governor Jennifer Granholm in calling for assistance to the Big Three automakers as part of the $700B bailout:

“We’re in a situation where there’s a great unknown about what will happen,” said Sen. Debbie Stabenow, a Michigan Democrat. “And a great concern that at least one of the companies will find themselves in a situation where they cannot make it until January 20,” when President-elect Barack Obama is inaugurated.

I wonder, what precisely does she expect to happen on January 20 that will immediately alter–and improve– the automakers’ prospects? If they can “make it until January 20,” what happens on that date that will allow them to “make it” thereafter?

I suppose it’s the same sentiment that believes that once Obama is inaugurated, the planet will start to cool, the waters will stop rising, and the economy will miraculously improve.

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