"Rumbel Seat" Colmnist and Automotive Critic for the Los Angeles Times
Con to the question "Should the Big Three Car Manufacturers Be Bailed out by the US Government?"
"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."