As 2008 winds down the drain, it will be interesting to see how history remembers this year. For me, 2008 can be summed up in one word - bailout.

I am floored at how easily billions of dollars have been changing hands lately. Perhaps it has always been the case, and I've never paid close enough attention. But the recent U.S. auto crisis has certainly made me stand up and take notice. I'm sure we've all heard by now that the “big three” CEOs flew their private jets to plead for public funds; parading down the red carpet with tin cups in hand. But even after a pitiful presentation on Capitol Hill, the White House may trump the Senate with a bailout from TARP funds.

In economic terms, a bailout is a loan to rescue a company from financial ruin. In colloquial terms, to bail someone out is to help a friend out of a sticky situation. Shocking, I know; to think that big-wig CEOs and big-wig state senators might bump elbows at the same cocktail parties. But it certainly seems like these chuckle-heads are friends with God, because it looks like they're going to get the bailout after all.

Analysts estimate that to travel to and from Washington D.C. in a private jet is a $20,000 expense. Compared to a $500 coach ticket, are you out of your mind? Who in their right mind would loan money to these buffoons?

But before my head starts flying around the room, I will say that I am sympathetic toward U.S. auto workers. I certainly don't think Johnny Blue-collar should have to suffer, just because corporate America has an incestuous relationship with the federal government.

So what's the solution? Empowering the government to choose the terms of these bailouts seems reckless. It promotes shady business practices which, over time, will lower business standards. It also sets a horrible precedent, allowing corrupt CEOs to run their companies into the ground with the assurance of a safety net.

Instead of seeking ways to bail out the U.S. auto industry, government should be working to stimulate automotive sales. If the government passed a law stating that all cars must be electric by 2015; perhaps providing small grants to taxpayers who decided to buy American, the boost would help both the auto industry and the struggling working class.

I sure wouldn't mind a handout. Oh, I'm sorry. Did I say handout? I meant bailout, of course.

Estabrook's column appears Mondays and she can be reached at estabrookcarole@yahoo.com.