I understand the argument that saving GM with a $25B “loan” might prevent an $80B shock to the economy, but who can say whether $25B will save them? GM does not produce a quality product that the consumer wants. If they did they would not be in trouble now would they? Then there is the other problem of the high cost of union labor. I’m sorry but I do not believe that a guy/gal with just a high school degree and a union job should be earning $100K+/yr putting parts of a car together.
If GM can come forth with plans/agreements that cut the cost of labor in half, build cars of the future (i.e., don’t rely solely on giant internal combustion engines), and do so with a quality product – I’d be in favor of a loan. Otherwise let them die and well pick up the pieces later. I still think they should be building wind turbines instead of cars.