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Originally Posted by jawillie  I vote no.
An industry that fails is perhaps not valued anymore. A new one will then be able to take its place. The shift may be uncomfortable, but it is needed. Being "uncomfortable" inspires action, and perhaps a more positive outcome would come of it. Throwing more money at a problem doesn't make it better. |
I'm afraid "uncomfortable" is a bit of an understatement... bankruptcy in one or all of the big three would cause a cascading of events that will further damage the overall economy, and hit American consumers hard. It would cost millions of jobs, and threaten retirement benefits to millions.
Should there be strings attached to the loans? Absolutely, but 25 billion is a relatively small amount to prevent much greater destruction of the economy. I'm sure you've noticed, the boat is taking on water, some bailing might be necessary.