Avoiding blame in the auto industry crisis

Trying to save the "Big 3" is like pouring money over a corpse to bring it back to life. The US auto companies should have seen the hand writing on the wall decades ago. But they and their stupid and overpaid CEOs kept churning out the same old junk to what they believed was a captive market. It is time to cut the life supports and let the Big 3 die. Good riddance.

Maybe handing over whole "big 3" assets and personals to more inventive freshers auto maker in USA is better solution, not to private jet enjoyers. I cannot beleive that room full of those "top" engineers has no any vision for fuel price hike or hybrid crisis coming instead killing electric cars a decade ago.

the solution is quite easy: Give Pelosi her private jet she wants and all is forgiven.

All the environmentalists have private jets these days (Al Gore etc)

Hey but its fine to give 700 billion to the banking industry the automakers on the other hand should swing because they made their own problems. Oh, wait maybe the banks did it to themselves or wait.... America has become a pathetic joke where physical work and making a product is not respected or valued. It's somehow ok to toss 2 million autoworkers out on the street and kill the last of America's manufacturing base but please help the bankers as they aren't responsible for any of this mess.

The bank bailout saved the luxurious lifestyles of the banks' CEOs. Meanwhile the banks are cutting jobs. The people who made the mess are sitting pretty.

It's obvious, the US automakers are by far the biggest criminals in the face of the earth.

They are asking for a government financial bailout and they come to D.C. on their private jets. Is it too difficult for them to fly on commercial airlines?? So the suits from U.S. automakers can't cut their cost on their private jets?

Bill Gates flies on commercial airlines, why can't the suit from the US automakers do the same thing?

The US government should never hand out money to such human trash.

To answer Asara's question, US automaker only care about 1 thing. That is PROFIT!! They don't care about the environment. When LA was about to run public transportation 40 years ago, like subways, did you know that the US automakers bribed the government to prevent them from making a subway system. The ironic thing is that the US automakers did not benefit from the bribes, it was the Japanese automakers who benefited from the bribe..

Fighton - They all drove to Washington this time. But their hotel rooms aren't cheap.

They only drove because people pointed out the obvious; it would have been better if they broke down on the way but I suspect they get the best cars they can make.

Not surprisingly, neither the outgoing Bush administration, President-elect Barack Obama nor the Democratic leaders of Congress wants to be blamed for the loss of a once proud domestic auto industry and the disappearance of hundreds of thousands of jobs.

I don't see how any reasonable, rational mind can blame President-elect Obama since he's NOT THE FRIGGIN' PRESIDENT YET. Geez, why not just take that nutty logic all the way and blame whoever is elected in 2016?

jeancolmar: exactly my opinion, which I contributed earlier under a different heading. Let these diehards sink and someone else start over.

Nissan was bought out by Renault. Chrysler, before it was canned, by Daimler. Daewoo? That was GM's own bidding. This 'big 3' nationalistic jingoism has got to go. There was a time in the late 60's and 70's when these three were laughing at Japanese cars. I don't think Toyota dares to laugh at Tata in India, because you never know what they'll become in the future. It's just a culture of arrogance, ignorance, and sheer hubris over there. Let the buyer beware.

This is what torques me. In any other industry, CEO's and execs should and are ultimately held responsible for their company performance. If company takes a dive, then they take a hike. They can't go around crying to the government for help because of their own screw ups.

The US is the biggest welfare state for the rich. The Big 3 will get their fat welfare checks, but will this safe these three absolutely rotten companies or just prolong the death rattles?

usaexpat - as you well know, without a viable, functioning banking system, the world economy has big problems. If GM goes to the wall, simply buy a Toyota (also proudly built in the US by American auto workers).

Perhaps that explains the US government's priorities to you

Plus, with their now-usual double standards, the Americans would be the first to whine if the Japanese government gave Japanese carmakers a JPY 2.5 trn "loan" that it full well knew would never be paid back