Don't Bail Out the Big Three by Daniel J. Ikenson FROM The Cato Institute

"One day before the CEOs of General Motors, Ford, and Chrysler told the Senate Banking Committee that their industry faced imminent collapse without an emergency infusion of $25 billion, a new automobile assembly plant opened for business in Greensburg, Indiana. Although the hearing on Capitol Hill received far more media coverage, the unveiling of Honda's latest facility in the American heartland speaks volumes about the future of the U.S. car industry—and shows why the proposed bailout of Detroit's Big Three is so misguided."