If TARP is a slush fund, everything's arbitrary. We're no longer a nation of laws; we're a nation of Treasury and White House officials with hundreds of billions of dollars of taxpayer money to dispense as they see fit. Why rescue autos and not, say, the newspaper industry, which is heading for oblivion. Better yet, why not rescue state and local governments? They're running short about $100 billion this year and as a result are slashing public services, including the nation's schools... an economic crisis is no excuse to turn our backs on democracy.
Reich is right. One of the most conservative Presidents in history is trying hard to hand us over to Socialism. As one of the commenters pointed out, it's as if we've declared war on the economic crisis, and the President is using his expanded war-time executive powers to again circumvent the democratic process.