I’ve shared more than once in the last few months, most recently in this column, my doubts about the attempts by the Bush and now Obama administrations to fix this economic mess with big-dollar bailouts.
Regardless, I’m cringing tonight seeing the headlines: The White House has determined that neither Chrysler nor General Motors is viable, and neither deserves anymore bailout cash, at least as currently structured. Check it out from The Politico and The Associated Press.
What does this have to do with New Mexico politics? It’s becoming increasingly likely that at least one major automaker — maybe more than one — is heading for bankruptcy, soon. That’s jobs across the state and nation. Dealerships would close, auto part makers would go under, etc. And that would only exacerbate the economic crisis.
New Mexico, like every other state, would be affected. Significantly.
I could be wrong, but I suspect Monday will be a rough day for those who watch the financial tickers.