April 01, 2009
A Long Time Coming
NP: Genius Playlist from "First Wave Intact" by Secret Machines
Kevin Drum says what a lot of people are thinking -- and, to be fair, what a lot of people are also saying -- about why the auto industry gets stern action and ultimatums, while the finance sector gets big bonuses from TARP monies. But Nate Silver has what I find to be a pretty compelling answer, and that's the idea that the problems in the auto industry have a much longer history and the rot is much, much deeper. And he has charts to back it up, so he must be right.
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