Gail and his Knights

This is a good article explaining both sides of the proposed auto industry bailout.
I am not for any kind of government bailout for any company. They put themselves in this position, for many reasons including WAYYY overpaid CEO's, inability to compete with foreign car companies and many other reasons. I am saying this as my grandfather (who is still living at 93) two of my uncles, my father-in-law (all which are retired) and many other people i know worked for GM or Ford.
I just don't think the government should bail out a company that created it's own mess.
As you can see the bank bailout has caused a domino effect, now the auto industry wants a bailout, then what all the Airlines want one, then what Toy companies? I mean hey if people lose jobs they can't buy kids toys so you may as well bail them out too right? I know the argument oh we will lose jobs, if they are in this bad a shape they may be destined to fail anyway. I say take a wait and see approach. The auto industry needs to figure this out for themselves, if that means they start over from scratch then so be it.
If we keep this up sooner or later the government will control everything which is what the new president elect seems to want!

"General Motors, in particular, seems to be in difficulty. The company is burning through cash so quickly that it might not be able to fund its operations past the end of the year. Ford is in trouble as well, though it said last week that it should be able to survive in the near term"