What would happen to Ford, Chrysler, and GM if the government didn't bail them out?

  • Thread starter Thread starter mamakatie
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mamakatie

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How much trouble are they actually in?

Would they restructure?
Close down for good?
Downsize?
What would happen to people who own these cars now?

Why would it be so bad if these companies went bankrupt? Isn't that how our capitalistic economy works?
 
They would file for bankruptcy protection and restructure.

This is a 'doomsday scenario' from the Democrat point of view because if the go into Chapter 11 then all union contracts are void and the court will decide what 'fair compensation' is. In effect the unions will have a judge forcing a pay dut down their throats.
 
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