Mark Perry at Seeking Alpha wonders aloud,
Maybe the country would be better off in the long run if we let the Big Three fail, and in the process break the UAW labor monopoly, and then let Toyota, Honda (HMC) and Volkswagen (VLKAY.PK) take over the U.S. auto industry, and restore realistic, competitive, market wages to the industry. It might be the best long-run solution.
Professor Bainbridge says No Bailout, and offers his reasons why.
My feeling is that we have to do something for GM and Ford, too many jobs are at stake, but not without massive restructuring, ripping up existing union and management contracts, etc. Chrysler can go pound sand. They made their deal with the devil private equity, and bailing them out is just another bailout for Wall Street.