INSTEAD OF "BAILING OUT" CHRYSLER AND GM, IT WOULD HAVE BEEN CHEAPER TO BUILD TWO CAR COMPANIES FROM SCRATCH

JONAH:

We're ponying up $50 billion, but the total costs might be closer to $100 billion in the long run. And all we get is the same car company we always had.

So, I'm wondering: How much would it cost to just build a car company from scratch? I'm sure the start-up costs would be high.

But the new company wouldn't have to bow and scrape to the UAW and could probably just buy GM's best plants at fire-sale prices.

• WHICH SORT OF PROVES THAT THIS WAS REALLY ALL ABOUT "BAILING" OUT THE UAW:
  
• OBAMA TOOK OUR MONEY AND USED IT TO BUY GM AND CHRYSLER AND GIVE A BIG CHUNK OF IT TO THE UAW.

OBAMA: GENEROUS TO HIS PALS WITH OUR MONEY.