"Detroit's Big Three auto executives have ditched their corporate jets for hybrid cars and replaced vague pleas for federal help with detailed requests for as much as $34 billion in their second crack at persuading Congress to throw their struggling companies a lifeline."
Read : http://www.google.com/hostednews/ap/article/ALeqM5hTlR_ry_mjT2nXKPWyYI4asuW1jQD94R4L7O0.
Let them go bankrupt. Auto makers are not banks. They do not bear the weight of the whole economy. Let them go bankrupt : it will be better for the environment and for the average tax payer. It is the only way to teach top executives a lesson. It could be the beginning of a better economic structure. I know that hundreds of thousands of workers depend on their jobs in the car industry, but they should not be used as hostages by their executives.
Or, if one can't stand the loss of votes by doing nothing, one should nationalise them, and let the average citizen partake in the profits as well as in the losses.
Now, I know that, having written that, I will be branded a despicable communist in the USA. I couldn't care less : I have seen about enough of the "benefits" of the "free" markets.
Many observers continue to say that the system should not be condemned because of a crisis, even a very severe one. I sincerely think that the system is rotten to the core and will collapse sooner or later. So we'd better be prepared and start working for a better one. One which is no longer based on greed and on the primacy of profit maximalisation. One which gives priority to people and to the environment.