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I only know that because they had a story about the editorial in another newspaper recently and they pointed that out. But you're right that a rose by any other name still smells as, well, terrible in this case. Private capital was as good as dead at that time. Ford did themselves a service by hedging a year or two previous. Bush and Obama did what they had to do for GM and Chrysler. Anyway its not as if precedent doesn't exist. Bush bailed out the airlines after 9/11, and that was the right choice there, too edit: sorry tons of typos on draft one of this post. Its really hard to type on a phone while flying through heavy turbulence. Thank god for autocorrect.