There is no way we can allow the auto industry to go under. It truly is too big to fail. The number of unemployeed would be more than the economy or government could deal with. Personally didn't give a hoot if a few banks and investment firms went belly up. But auto industry creates real wealth. Of course I would be tempted to let them declare bankruptcy, fire all of the current upper management and get some new blood in there. Managment at big three have made one bad decision after another.
let them go out of busness and get out of those high labor contracts so them can get competitive again.
THE CEOs ARE MAKING MILLIONS. FOREIGN CARS HAVE BEEN BUILDING A
CAR AND NOT JUNK!!! THE CEOs SHOULD BE FIRED. HONDA IN EUROPE HAS A FOUR CYLINDER TURBO DIESEL THAT GETS BETWEEN 65 TO 90 MPG. IT IS TO REACH AMERICA NEXT YEAR. IT HAS BEEN IN EUROPE FOR YEARS.
LOOK FOR IT ON THE WEB. LOOK FOR HONDA DIESEL 92 MPG.
If we can GIVE 750,000,000,000 taxpayer dollars to financial institutions (who in-fact have created this mess out of their own greed), then we can certainly LOAN the auto-makers enough to keep over one million Americans employed. It is obvious that if the U.S. auto-makers fail that the outcome will be another DEPRESSION!! Are you people crazy? Do you really want to cut off your nose to spite your face? It should be the mismanaged financial institutions who fail. The ones that were managed correctly will survive and we will survive. Without jobs, you can’t survive.
I think that the automakers should declare bankruptsy, default on their employees pensions like United Airlines and USAirways, give their executives hugh bonuses because they have done such a good job, and let the taxpayers pick up the pieces......
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