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To me it is pretty simple. We spend around 10 billion a month in Iraq for which we are not getting anything back and probably never will. We take 3-4 months of what we spend in Iraq and loan it to the auto makers. Work with them to streamline and restructure their companies and help them get profitable and in return we get our money back and millions of people have jobs (and we get cars).
Normally I would say that if a business fails that is the system. Not everyone succeeds. However, in this case, the economy is already hurting and having the auto makers fail would only worsen the problem.
I am reminded of a line from a great movie called "I am trying to break your heart." It is a movie about the band Wilco and the making of the classic album Yankee Hotel Foxtrot. In it they are arguing over the mix of a song and basically the argument comes down to either keeping it as it is or remixing it. If they remix it there is no guarantee they will like it any more and it will cost them about $1,000. One of the guys in the band says, "Just mix the song. This band has wasted $1000 on much stupider things."
I think making this loan to them is a small price to pay for helping out an American institution and three companies that helped build this country and in our time of need helped build the equipment used to defend it.
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