Not if the political hacks that support foreign automakers have their way.
Why? Well, unless you subscribe to a country without its own manafacturing base you should be against losing the big 3. We have shipped so damn many jobs overseas that we have virtually no manufacturing capabilities left in this country. The loss of the big 3 will be the final blow...we should learn to speak chinese, japanese or korean right? Come on folks, the very senators and representatives who are against bailing out the big 3 have 3 things in common...they are repugs (or blue dogs), they are building foreign cars in their districts or states and they hate unions. If you doubt that statement go look up where the honda, hyundai and toyota plants are. Do those plants provide jobs? YES! But at what cost?
Should we give the big 3 money without oversight or certain qualifications? Hell no! But we did give Paulson and company 350 billion with virtually no oversight. And did the banks begin loaning out money? No, they squirreled it away or gave it out in executive bonuses or dividends...just what we wanted right?
Lets face it, GM, Ford and Chrysler all have one thing in common...you could show how not to run a business using them as models. The people who run those companies should be let go if they want the bailout and the new management should have to present business plans to congress that show a swing towards a new direction.
Let them go to chapter 11? Would you buy a car from a company in chapter 11? What happens to warranties, parts, repairs, etc while they are in chapter 11? What happens to all the jobs that are associated with the production of new cars in this country?
Hey, by all means. lets take care of AIG and Citibank and Wells Fargo. After all, they provide such great deals on credit cards, home loans, auto loans, etc. right? Did you see where Citibank has informed its credit card holders that they are raising the rates? yep, they need more from the american taxpayer!