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owlafaye -

Originally Posted by owlafaye

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We cannot afford to lose the auto making businesses in America today...our economy is still based on autos. Ousting executives and labor contracts, re-inventing medical and retirement plans that are more in line with what other Americans receive, catching up with the world auto technology, reducing the obscene luxury and frivolous unending variety of models and engines, choices and foolishness...that characterize an American auto,...is the only way.

I think this article supports your POV :

GM Collapse at $200 Billion May Exceed Bailout Plan

Nov. 14 (Bloomberg) -- General Motors Corp., seeking a federal bailout as its cash dwindles, would cost the government as much as $200 billion should the biggest U.S. automaker be forced to liquidate, a forecasting firm estimated.

A GM collapse would mean "more aid to specific states like Michigan, Ohio, and Indiana, and more money into unemployment and extended benefits," Nariman Behravesh, chief economist at IHS Global Insight Inc. in Lexington, Massachusetts, said today in an interview. He prepared the estimate for Bloomberg News.

The projected expense of $100 billion to $200 billion covers funds for existing programs, such as unemployment insurance, and new measures that would be needed to revive economic growth after millions of auto-related job losses.

Such a sum would be an eightfold increase over the $25 billion bailout package that will be debated in Congress next week to help prop up Detroit-based GM, Ford Motor Co. and Chrysler LLC amid the industry's worst sales year since 1991.

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CarloSW2