Bankruptcy is not an option for any of the Big Three. The 4.5 million people that rely on income from them will all have to file bankruptcy also. When all the retirees loose 20% of their income and it moves over to the Feds, that will start a whole new downward free fall.
I worked three years for a supplier to GM after I retired with 38.8 years. Collins & Aikman went down and about 18500 people lost their jobs. The supplier that under bid C&A went chapter 7 in December.All those are unempolyed. What did Bankruptcy solve?????

I strongly suspect that we have reached a point where any coporation that cannot make it own it's own, should go into banruptcy and let the REGULATE Free Market Economy work out the solution . . . either recovery or bankruptcy.

The government might assist with some bridge loans for deserving companies ; but just like with the home buyers, if they cannot reasonably repay retructured loans, then they should be foreclosed on. If the businesses cannot be reasonably able to replay loans, then they should file for Chaper 11 or 7 bankruptcies.

We, the people" cannot afford for the government to just continue to dump "bailout" monies into these large corporations. Capitalism has to prevail in all of this at some time . . . and that timeis NOW.

That is sound advice. GM should file for bankruptcy protection. Their use of pension funds to buy workers out is wrong. If a business is slow, then let their employees go. GM is using taxpayer dollars to finance these buyouts. GM is wasteing money like having a bond fire. Throw the bonds on it and watch their value go up in smoke. GM is archaic. They still have the same management team, and grumbling workers in the UAW. GM is old school baby. Time for a good old fashioned bankruptcy. Don't let the sabre ratteling scare you America. They have gotten so used to living high on the hog, they can't stand living like the rest of us making less than half of what they do.

That is the same expert who predicted Circuit City would survive a bankrupty . 2 months later liquidity. Come on people GM has been employing americans with decent pay and benefits for 100 years. We should be trying to save and add more of these jobs not destroy them. The government would pay a lot more in bankruptcy just by taking over the pensions alone. The outrage should be pointed more towards AIG, Citigroup and Bank of America who have been givin the money.

Let GM fail! GM new this would happen 30 years ago. Over paid labor and inferior products, and poor design. Let them file chapter 11 and rid themselves of those silly UAW contracts, and legacy cost!

Mark J. Roe writes in today's Wall Street Journal that "GM may run out of cash to pay its suppliers -- whether it files for bankruptcy or not. But GM's supply network is probably more robust with GM bankrupt, as Chapter 11 assures that suppliers get paid out of whatever cash GM has....................thats not true the government gave them the loans but if they go BK the government goes to the head of the line then the deit holders then the bond holders suppliers are below even the shareholders wont be no money by then.