Bail Out Argument

Seeing as Im a home grown product of Detroit for over 30 years and have worked in the auto industry (not directly for the big 3) for over 15 years some may say im bias. Call it what you want, but if the government dont throw down a life line (and lets not forget that this is a loan not a hand out) it will not only cripple the city of Detroit and the state of Mich, but everyone in this country will feel the effects. There will be over 3 million people affected by this. Its not just the big 3, but the small tool & dye shops, the parts makers, the dealerships and all the other businesses that depend on these people working to spend money in there establishments. Restaurants, party stores, gas stations. Everyone will be affected. How is it that we can give wall street 700 billion without batting an eyelash, but when the Big 3 needs 1/20th of this amount to survive there made to walk through fire Lets not forget when 9/11 happened or Katrina it was the Big 3 who helped not Honda or Toyota (see more)

It's not that I think the automakers didn't make their own bed and deserve to lie in it, however, at this fragile time in the World Economy, it would be devastating to compound the situation with the shuttering of the Big 3 US automakers.

For one thing, I don't think a typical Chapter 11 restructuring would work - and even if it did - the short-term devastation to the US economy would have severe implications on a global scale. We'd have unemployment in the teens - something akin to the Great Depression.

The bright spot in this gloomy scenario is that Obama is coming in to power, and any loan/bailout could be made contingent upon higher fuel-economy standards that the industry has fought for decades.

Now, how about a bailout for struggling/unemployed writers? I could use a new private jet...;) (see more)

Those guys on the line make like $80 AN HOUR! how bout they do what everyone else is doing and lower wages? Id move to detroit and work for $40 an hour CALL ME!!! the f*cking unions have driven the automakers into the ground and they're gona have to make sacrifices like the rest of us... (see more)

they are just going to ask for more money in 2 years.. and then what? we do it all over again ..i say let them hang themselves (see more)