History repeats itself in frustrating fashion.

Thursday I wrote about the pathetic state of American car manufacturers, especially in comparison to the bold, innovate strategies being instituted by foreign auto makers. I also wrote about Detroit auto makers wanting a $25 billion bailout from taxpayer pockets.

T. Boone Pickens in 1986: "The automobile industry is a perfect example of an industry paralyzed by bureaucratic inertia. The Japanese and Germans concentrated on building a better automobile while the U.S. automakers added a little trim and rested on their laurels. Then, when the rest of the auto world caught up, Detriot ran to Washington for bailouts and protection."

So happy to see history repeating itself.