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The Big 3 are going down barring a miracle ... they already got a $25 billion auto industry bailout the other month.
And now they need another 25 billion ...
Even if they got $100 billion and retooled, etc who is going to buy the vehicles? -people have little savings, credit is tightening, and the job market is getting worse.
The government loans, from my understanding, come with relatively high interest rates ... so it's doubtful the Big 3 could even make the interest payments let alone ever pay down the principle...
And hence the term "bailout" because it's likely they'll never pay most of the money back, and probably go broke anyways.
And for those who think the Big 3 execs flying in corporate jets is excessive, you ain't seen anything yet - if their industry gets another bailout, a bundle of that money one way or another will find its way to the top execs.
Ron
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