The U.S. Treasury drafted broad guidelines for aid to the auto industry that would let officials provide funds to any company they deem important to making or financing cars.
Taking this to its logical conclusion, the TARP will need to cover the beginning of the auto aupply chain: steel mills, rubber processors, mining companies, etc.The TARP will need to get as big as a circus tent to cover all of these bailed out companies. Next I expect junkyards (like the one depicted in the photo) to become eligible for bailouts. Gotta save those non-running clunkers (not)!
Nota bene: Anthony J. Alfidi does not hold a position in any automotive parts supplier.
