Vested Interests

The bailouts at Chrysler and General Motors remind me of the classic vested interests case, the Charles Bridge Case. In the early 1800's, a group of investors chose to build a toll bridge to replace a ferry in Boston. The local government then made this investment useless by building a free bridge over the same river. The employees and stockholders in Ford Motors are about to be screwed in the exact same way. Their investment is about to be damaged or lost due to Oh Blah Blah's choice to subsidize the production of "eco-friendly" cars. These cars will compete with Ford products, and Chrysler and General Motors will be relieved of the pressure to do what all companies in a capitalist system are expected to do- - make a profit.