The idea of bailing out the auto companies is somewhat repugnant. Like the financial bailout it may be a case of what is best for the economy as a whole. If action of this sort will prevent the great depression circa 2009 then it is better then the alternative. I heard the same hue and cry during the savings and loan fiasco and the Chrysler bailout years ago. The government eventually made a profit on those loans and maybe they will on these.

IMO the auto companies made the cars that people wanted to buy. I see a lot of old American cars still putting along after twenty years. I can't say the same for the foreign stuff. I know after seven years of trouble free service I am happy with my Ford. (knocking on wood)

I read an article in the NY Times here critical of the US auto companies yesterday. While I don't agree with the conclusions as I stated above but his statistics are interesting and put into perspective the cost of labor in the price of automobiles between the big three and other manufacturers.