oldjag writes:

Seems like a $35Bn loan to the car companies would be a better
investment than AIG etc, especially if the unions provide some
concessions to help.

That one act of socialist force is better or worse than another, does not
in the least justify either.

The industry needs a destructive shakeout.

Auction off automakers 1 and 2, and declare all stock, management, and
union assets as worthless as they are. Use the auction proceeds to bail
out automaker 3. Make one good one out of three broken ones. That at
least has a chance to produce a healthy and competitive surviving auto
industry. The politicians can earn their keep by choosing who is 1, 2, and
3.