The Big Three auto companies are saying that as a part of any bailout package, the government would get a share in the auto companies. The libertarian points out that Americans can currently get a share in the auto companies without the government - GM for $4.90 a share at Wednesday's closing price. Not many Americans are buying shares in any Detroit automaker at the moment, which should tell Congress that it would be a bad idea for government, the people's proxy, to take an ownership stake in any company. Hat tip in this case goes to EconLog.
The underlying principle is that libertarians don't like being told how to spend their money. For more, read about Ricardian equivalence here.
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