Speaking of the possible bailout of the Big Three automakers, David Brooks says in today's New York Times:

It is all a reminder that the biggest threat to a healthy economy is not the socialists of campaign lore. It’s C.E.O.’s. It’s politically powerful crony capitalists who use their influence to create a stagnant corporate welfare state.

I was disappointed in Brooks' coverage of the election—too much "OK, McCain's acting like an insane jerk, but really, really, he's a good guy and he'd be a good president"—but he has a point here. If GM et al get a straight handout, well, where's the incentive to ever come up with a product people want? Why should straight incompetence be subsidized? Yes, there are jobs at stake but is putting them on the public payroll (which is what a bailout would amount to) the way to go? And the idea of putting incompetent execs on the public payroll. . . . Well, pardon me, while I go throw up.