Does Obama’s suggestion of a “structured” bankruptcy for the American Auto companies help or hurt?

Is the incoming administration interested in saving the industry or just saving UAW jobs? Won’t a Structured Bankruptcy hurt auto suppliers, many of them small businesses and their employee’s? Why is our government so fast to GIVE the insurance industry (A.I.G.) 185 BILLION dollars, BAIL OUT bank after bank whose multi- millionaire CEO’s mismanaged their assets while absconding with tens of millions of our bail out dollars as “BONUSES”, but won’t LOAN less than 4 percent of that total public obligation to the autos? American cars are every bit as fuel efficient as imports and every bit as high quality… so where is the problem. Could the auto problems stem from among other factors a hostile uninformed press, overly generous UAW contracts which cost an average of near $80.00 per man hour for unskilled labor as compared to American “built ” Imports costing an average of under $40 per man hour and dried up liquidity in the financial markets due to government “regulation” (not deregulation) lowering the bar for mortgage qualification thereby destroying the free market system and injecting arbitrary governmental influence on financial institutions for the lofty goal of helping the poor “buy” houses. None of which had ANYTHING to do with the autos. Remember…the AIG deal was done in the dark of night with NO hearings or repudiations by dysfunctional and clearly unqualified members of congress. Our country needs a messiah FAST!
If bankruptcy is the answer…what about the tens of thousands of people that are employed at the suppliers that will be stiffed and ultimately are forced to file bankruptcy themselves… Is that the Barack Obama "bankruptcy" economic plan? I guess Bill Clinton (and now Barack Obama) never consider unintended consequences…like pre-911 when Bill Clinton dismantled our military and foreign intelligence operations …and then called it a PEACE dividend…and a federal surplus…Oh those pesky unintended consequences!

Definitely hurt. There are auto manufacturers for Toyota, Honda, and BMW with factories built in the US in the last decades, and these auto manufacturers don’t have the issue of the American manufacturers. This is insanity to not have pre-conditions to drastically reduce salaries and the resort hotel conferences and miscellaneous expenses. I worked with one of the auto manufacturers and can tell you first hand that they have too many managers and too much time on their hands, plus are over paid.