Sure this is yet another of a myriad of moral hazard tales of late. But the differentiator to this specific story is how yet again, my hometown continues to engender a special kind of pride.

Alan R. Mulally, the chief executive of Ford, was even more upbeat. “It was a great day,” he said. When a reporter asked what Mr. Mulally might say to people who viewed the loan guarantees as a bailout, he replied in a chipper voice, “I would characterize it as an enabler.*”

* DB: emphasis added