Guest Columnist: Bailing Out Detroit

By Madison Powers

A chorus of politicians from Michigan and elsewhere are warning that another economic catastrophe looms if something is not done, this time for the “Big Three” Detroit automakers. In the last eight years the Big Three have lost 90 percent of market capitalization, a third of its employees and much of its market share.

Pending in the lame-duck session of Congress are proposals to divert some of the $700 billion bailout fund from the financial sector to help the automakers through the middle of 2009 when they are projected to run out of operating cash