I just finished listening to Chris Dodd proclaim that "It is unfair and wrong that this bailout did not get passed by this Senate. I am appalled."
Which makes me wonder if this man and men like him have any respect for the Constitution of the United States of America. There is a clause in the Constitution called the Equal Protection Clause. It is a part of the 14th Amendment, and it states, "no state shall... deny to any person within its jurisdiction the equal protection of the laws."
According to Wikipedia, "The Equal Protection Clause can be seen as an attempt to secure the promise of the United States' professed commitment to the proposition that 'all men are created equal' by empowering the judiciary to enforce that principle against the states."
What that means is that if the United States Government is going to bail out one industry, one bank, one auto maker, one state then it has the Constitutional obligation to bail out all banks, all auto makers, and all states.
Therefore, I conclude here that not only was the auto bailout that failed in the Senate today unconstitutional, so to was the bailout of the banking industry.
So the debate as to whether or not the bailout would even work is futile. It is not the role of the U.S. government to show special attention to one group of people over others.