For those of you who are against the government bailing out the auto industry, this article provides an interesting read on how the $25 billion rescue loan would help maintain an essential industry. The author considers this more as an investment and not as a bailout.
Just to gain some perspective ...
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http://www.nytimes.com/2008/11/19/business/19auto.html?hp
Looks like its "tough luck" to Detriot, after the Big THree GM, Chrysler and Ford pleaded their case to the Senate today. Congress questioned whether that this bailout would actually increase the industry's productivity and efficiency or its just life support. Congress also sited that many of the current financial difficulties in the auto industry have been self-inflicted, So its looks like there will be no immediate action to bail out the auto-industry in Detroit.
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