US Auto Flip Flop

It is really sad that there is this political transition from the Republican Bush administration to the Democrat Obama Administration. In-between are caught the Big Three, the three big automakers in the US, Ford, Chrysler and GM. According to a report, if these three automakers fail, it could lead to close to 600,000 jobs being lost in Canada. There has been a bailout but it has been temporary. Right now, there is a major economic crisis which has been brewing and at this juncture, we have heard political noises from the US politicians that the Big Three have been responsible for making huge, gasoline guzzling vehicles. It is possible that this may have been the case and it is also possible that these three companies made vehicles which did not adhere to fuel efficiency norms. However, this is not the opportune moment to bring up such issues. The need of the moment, and I would reiterate, the pressing and urgent need of the moment is to ensure that these three big and iconic companies don't fail. If there are half-hearted measures or if these three companies fail, it is likely to have more serious impact on the US economy and by extension on the global economy.