"Rumbel Seat" Colmnist and Automotive Critic for the Los Angeles Times
Position:
Con to the question "Should the Big Three car manufacturers be bailed out by the US government?"
Reasoning:
"My modest proposal: Nationalize GM.
To be clear, I mean that the federal government should buy GM; forget rathole loans or nonvoting equity shares.
GM's fundamental problem is that it's too big -- and expecting it to fix itself in exchange for a $10-billion to $15-billion loan (its share of the vaunted $25-billion bailout) or magically right-size in Chapter 11 is foolhardy. It would take too long, cost too much and bankruptcy, should it come, would send customers running for the hills."