We don’t need to bail out GM & Ford. Let them fail. They, and their stockholders deserve it. They deserve it for failing to anticipate the changes in the price of gas. Economists have been talking about rising Chinese demand and limited supplies for years. It was a given that the price of oil and gasoline would go up. GM & Ford did nothing to anticipate this and plan for more fuel efficient vehicles. They deserve to fail. Let some entrepreneurs buy up the plants, buy up the remaining parts and buy up the designs at a fire sale. They might manage to do something with it that the incompetent engineers, managers, executives, directors and stockholders haven’t.
To hell with them. We didn’t need the government to bail out the carriage makers in the 1910s. We didn’t need the government to bail out candle makers after Edison invented the light bulb.
And while were at it, to hell with Congress too. Ford has a 65mpg diesel car that isn’t affordable in the US thanks to the incompetence of those morons in Washington.