There was nothing wrong with many of the automobiles produced from pre-World War I through the 1920s and into the 1930s. In fact many were far superior to other models of their day, and would surpass many autos made today.

Ram Air, hydraulic brakes, turbocharging? Check out the Duesenberg! Hand built luxury, all the rage with the high society types of the time. But gone now, done in not by unions, ho-hum cookie cutter designs or excessive corporate salaries, but simply by a business model that could not survive hard financial times.

No one got a bailout. So why do we need one now? Please click on the You Tube video above produced by the CATO Institute that puts the question succinctly on the line, and then take a few minutes to ask yourselves the same question.

Barney Frank is throwing around the word "billion" as if we all had a few in our pockets. But can these billions really change anything? Or is this just Washington D.C.'s way of letting their union backers and corporate sponsors down easy? Will they all fold in the next year anyway if hard financial times continue?

But then, the politicians will be able to claim they did all they could to "rescue" the industry won't they?

I bet we'll still be able to buy a new car five years from now, even if it doesn't have an old familiar name. It probably will be something we want, that satisfies our sense of good workmanship, modern design and cutting edge technology too.