The allergists voted to scratch it, and the dermatologists advised not to make any rash moves.

The gastroenterologists had sort of a gut feeling about it, but...

The neurologists thought the administration had a lot of nerve, and the obstetricians felt they were all laboring under a misconception.

The ophthalmologists considered the idea shortsighted. The pathologists yelled, "Over my dead body!" while the pediatricians said, "Oh, grow up!" The psychiatrists thought the whole idea was madness, the radiologists could see right through it and the surgeons decided to wash their hands of the whole thing.

The Internists thought it was a bitter pill to swallow, and the plastic surgeons said, "This puts a whole new face on the matter."

The podiatrists thought it was a step forward, but the urologists felt the scheme wouldn't hold water.

The anesthesiologists thought the whole idea was a gas, and the Cardiologists didn't have the heart to say "no."

In the end, the proctologists left the decision up to some (fill in the blank) in the Senate.

The problem with the economy is the housing market.

The problem with the housing market is that the price of oil destroyed the economy.

Democratic finger prints are all over the housing market bubble.

Democratic finger prints are all over the sky high oil prices.

As a ROF I am concerned over the pension and benefits that the workers worked for in good faith.

Congress should step in and make those good and let the "Big 3" fire their management and start over.

Starting over should include "Right to work" laws that won't give the unions almost 100% control.

Congress should do all things necessary to reduce the price of gasoline and keep it low while we we work full time to devise acceptable alternative energy sources.

Congress should also tell the man made global warming hoaxers to take a hike. We can't afford anymore government grants to give them funding to do computer studies to scare the populace so they can get more government funding.... you get the picture.

Chapter 11 wouldn't be so bad, especially if they can do it quickly so it doesn't have too much of an effect an sales.

Obama says that he warned them 1 1/2 years ago. Did he also warn all automakers because they are all having a real hard time. Besides slumping sales, U.S. Automakers have other costs foreign makers don't have to deal with.

I've heard that it's also tough for a consumer to get a loan to buy a car these days, which, if true, obviously puts a damper on sales, not to mention many consumers have no interest and/or ability to buy cars considering the economy.

But,  moving up the chain, I also read that when the dealers buy the cars from the automakers they also borrow the money to do so, so would a bigger dealer borrow more money and thereby get better loan rates/terms than a smaller dealer?

And the measure was losing support on the other side as well. Democratic Sen. Claire McCaskill of Missouri, who represents an automobile manufacturing state, announced she would oppose it because of an unrelated provision giving federal judges a pay raise. [...]

But many Republicans remained staunchly opposed to it, and some Democrats were ill or absent from the emergency, postelection congressional session. Supporters of the bailout acknowledged that in this scenario, getting the requisite 60 votes to pass it would be very difficult. [...]

Republicans are directly challenging Bush, arguing that any support for the domestic auto industry should carry significant, specific concessions from autoworkers and creditors.

They're also bitterly opposed to tougher environmental rules carmakers would have to meet as part of the House-passed version of the rescue package - something that also faces some Democratic opposition.

As a die hard conservative and major stockholder in a company that supplies Auto Manufactureres including GM I am torn.

The facts are...

1. All of the big three are in trouble long term but GM is the biggest mess because of legacy costs.

2. GM has too many dealers and state laws prohibit them from simpling canceling them.  Only Chapter 11 will make this possible.   The government is incapable for political reasons to shut the doors of mom and pop dealers all over the country.   Without Chapter 11 this necessary step won't happen.

3. The UAW has made many concesions but it's not enough for the companies to remain solvent.  GM and the rest of the big three know it and the the UAW has the trump card of having 1/2 of government in their corner.   Chapter 11 solves this.   The contracts are torn up and we start over.   The beuracracy of Washington and a democratic administration and congress are not going to gut the UAW's contract and legacy cost.  I don't blame the UAW but the fact is the deal they've cut with the big three is unrealistic and is killing the company.  If it continues then they might as well become government workers.

4. Even if the UAW agrees to every demand on it's current work force it's not enough.   Legacy costs are killing the big three and especially GM.  What is killing GM is not what the UAW workers are making it's the healtcare and pensions GM is paying for former employees and the FAMILIES of former employees.   This add s anywhere from $1,500 to $3,000 per car to the cost that it's competitors are not paying.   Ford and Chrysler have similar deals but since they where never as big as GM and never had as many employees the costs aren't as astronomical.

5) GM's plants are inefficient and the bueracracy mindboggling.   GM is poorly run and so are it's plants.   A first year MBA student could write the things GM needs to do on a a single sheet of paper and fix most of their problems but the machinery and will isn't in place and that's obvious if you look at the decisions this company has made over the last 30years since the energy crisis of the 70's.  It needs new management, a new board and new officers.   Only Chapter 11 will make this happen.  

Chapter 11 is the solution.   It will be miserable for GM employees and for the employees of the thousands of suppliers (including a company I own part of) but it's an economic reality.

15billion is just a bandaid.  Do people really have faith that the federal government will manage this properly?   Do people really believe if nothing is done about all these issues now that things will get better?  

It would require the two firms closest to bankruptcy, General Motors and Chrysler, to reduce their debt by two-thirds. Bondholders would have "plenty of incentive to make sure that the debt is reduced by two-thirds" or risk losing even more if the firms go into Chapter 11, where their bonds might be further discounted, Corker said. "We're going to force them into bankruptcy if they don't do this," he said bluntly.

He also would require that the Voluntary Employee Benefit Association, the entity created by the car firms and the UAW to handle retiree health care benefits, accept stock in lieu of half the cash payments due. The carmakers had agreed to fund VEBA but can no longer afford to do so. "If a company goes bankrupt, these future payments are never going to happen anyway," he said.

Finally, Corker's bill would force the UAW to lower its members' wages to the level of workers at the American "transplants," the factories in Tennessee and other states owned by Toyota, Hyundai and other foreign car companies.

I purposely don't say American becuase I drive American cars built by Nissan and Toyota.

if a Democratic Senator torpedoed the American auto industry because he had a foreign owned car company plant in his state? My imagination is insufficient to conceptualize howling of such enormous magnitude.