Toyota announce that they now expect a loss of over $1 billion for their current fiscal year. I’ve yet to hear calls from Richard Shelby that they fire their executives, bust their union or consider reorganization. Of course Toyota isn’t seeking a bailout since they’re sitting on $29 billion in cash, about 3 times the value of the “Big 3″.

My point: If you don’t think the current credit crisis and it’s fallout hasn’t created an extrordinary situation you need to sober up and great real.