Bankruptcy would not have been a bad idea. As long as the government considered the warranties, bankruptcy would have been good for GM and Chrysler. Why, because they need to restructure, it is impossible to restructure whilst bleeding money like GM and Chrysler. Without bankruptcy protection as long as government guarantees the warranties and services, these companies will have a tough time surviving.
But anyhow they will cut wages and labor. Nobody remembers why Henry Ford paid his workers more, so that they could afford to purchase the cars they buy. These lunatics of today send jobs 1000’s of miles and still hope somebody will have money to purchase the cars, greed made them short sighted. Not a great man amongst them, a bunch of thieves, war mongers and the such.