Today is another new day of Bailout Mania here in the U.S. Today’s entrants are the “Golden State” of California and 789 Chrysler dealerships who were told they would be closing up shop.

In a letter sent today to the Sec of Treasury Tim Geihtner, California says it’s broke and in need of TARP funds immediately. Of course, if you live in CA, you know just how bad it is. But what is the ‘real’ long term solution to this state’s woes? Somewhere, sometime, this has got to end and this state has to be able to stand on its own.

I guess that if the feds give them TARP funds then technically, we the taxpayers will now own a piece of the Golden State. Thanks, but no thanks. I say let them get their act together on their own. It was their state government that created this economic disaster they face, now let their state fix it.

On another note, Chrysler dealers are in D.C. to try and get their hands on some of the bailout money to offset the announced closings of their dealerships due to the Chrysler bankruptcy proceedings. Here we go again. Hey, I feel for you and understand, but just like California, the answer should be no.

Life happens. There are NO guarantees on anything. Industries and jobs come and go as years go by. We evolve and it should never be other taxpayers responsibility to provide for you in the event your particular industry is mismanaged or simply becomes outdated.

So that’s it for today’s edition of bailout mania. Be sure to tune in again because there is no doubt that we will have other contestants trying to get in on the fun.