The Senate hearings are just a whole lot of covering themselves puff. They had to look tough so they look like they are really doing something smart and in the best interest in the taxpayer. Trust me, the fall out from the big 3 going BK would be so huge, think about it. Vendors all around the world would get axed. Any payable from the automaker to the vendor, well, bye bye. So, more BK vendors, laying off thousands of workers. See, the auto companies can continue to make cars but they don't have any money to pay the bills let alone whos going to ship parts to them for free? Now, autodealers are another issue. Talk about ghost automalls across America. The commercial real estate market would also take a hit, lots of square footage in plants, etc. How about the impact to the States that lose sales tax from the sale of the vehicle? I could go on with this but no need to feel any sicker, right?
So, let the automakers down now, tag another year on to the recession. Come on lawmakers, give us some reason to buy the cars in the first place. Get us the financing, make it tax deductible (like it was once), provide some gov. incentives to buy the car, not just on the Prius, all cars, even gas guzzlers too.