Leave your feedback Share Copy URL https://www.pbs.org/newshour/show/changes-to-bailout-package-obama-transition-top-weeks-news Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter Transcript Syndicated columnist Mark Shields and New York Times columnist David Brooks assess the latest changes to the implementation of the $700 billion federal rescue plan, the Obama administration's ongoing transition process and other news of the week. Read the Full Transcript Notice: Transcripts are machine and human generated and lightly edited for accuracy. They may contain errors. JIM LEHRER: And finally tonight, the analysis of Shields and Brooks, syndicated columnist Mark Shields, New York Times columnist David Brooks.Mark, what do you think of the Democrats' desire to help the automobile industry? MARK SHIELDS, Syndicated Columnist: I think it's real. I think it's needed.I think the auto industry is an object lesson in badly managed industry. I think that it's been the child and the ward of the Michigan delegation in Congress that has been uncritical and unswerving in its support for it.But I think the prospect, Jim, of the United States automobile industry going into bankruptcy is not an alternative. JIM LEHRER: Not an alternative. MARK SHIELDS: It's not an alternative. It's not like the airlines. The airlines go in and out of bankruptcy… JIM LEHRER: Yes, they go to Chapter 11 and… MARK SHIELDS: But you buy a ticket on a plane, and you're off. You're not going to buy a car from a company that is in bankruptcy, that is closing dealerships, because when you buy a car, it's a continuing relationship. You want to know that there's going to be service there, that it's going to be convenient, that there are going to be parts available.And I really think that there is a concern in this country — and a legitimate concern — that if the auto industry does go, that it leads the nation to a depression. JIM LEHRER: David, Gov. Sanford of South Carolina said on this program last night, "Let them go," meaning the big three auto industry, auto companies, American can do without them. What do you think? DAVID BROOKS, Columnist, New York Times: Well, I don't think you can just let them go and do nothing. But I think the essential point is that Detroit as we know it is not viable. There's not going to be a Detroit as we know it in 5 years, in 10 years.These people are bleeding money. And it's not because of this crisis. It's because of a whole series of long-term problems: bad management, bad contracts, bad cars, bad corporate cultures.The market has rendered a verdict on this Detroit, and the verdict is these cannot survive as capitalist enterprises. So the question is, how do you transition into the next model? And the worst thing you can do is give them another $50 billion with no strings attached.