Over in The Corner John Derbyshire is experiencing a bout of deja vu with our fearless leaders' plan to bailout the auto industry:

It's all a bit too creepily similar to the travails of the British auto industry in the 1960s. That ended with nationalization, which was of course a horrible failure, the debris eventually being sold off to Chinese and Indian firms.

I don't think we're looking at nationalization. I can't help but wonder why anyone would support another bailout given the bang up job we're doing with AIG.