For those following the saga of General Motors, Chrysler and Ford and its unstoppable march towards the abyss of bankruptcy a - excellent - Article Jonathan Cohn on the subject. My first thought when he started talking to rescue the three great was that it was best to let them go bankrupt and that the market rescue what I can.
seems, however, that GM and company are indeed in a sense another victim of collateral damage from the disaster on Wall Street, the three companies have spent a tremendous amount of money restructuring and reforming their structures, leaving a handful of reservations it and require funding to make these changes. Of course, now nobody will finance Wall Street is for anything (they're too busy growling at zombie plan and / or spinning slowly as they approach the bottom of the toilet), so all the plans have gone to shit, they are in the books are being implemented ... and suddenly the company has no hard because nothing flows.
I really do not know to what extent he is right (and I'm reading and reviewing more to see if I believe or not), but is a very good article. Perhaps a bailout makes sense, beyond being something politically convenient . The restructuring; certainly remain a loss of purchasing power and protection of workers, sadly, but you know.
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