The stuff about the wages etc. is not binding, it's just a goal - so they don't have to change or give the money back. And the Democrats will never make them, anyway. Even if new hires are paid less, that doesn't solve the problem for decades on the wage side and doesn't even begin to address the legacy/retiree costs that add some $1500 to the price of a Detroit 3 vehicle on average. IF the Detroit 3 are going to be competitive, they have to eliminate that $1500 differential immediately (as they could in bankruptcy) so that the compete on an even playing field in terms of quality/price ratio. I will personally NEVER pay a penny towards those additional costs if I am buying the car. I can't do anything about the taxes, but I can sure as hell vote against anyone who supports the bailout.
They can’t force people to buy new cars and they can’t force banks to make auto loans. It’s as simple as that.
As unemployment does a rocket shot in 2009, the private used car market is going to put the last nails in the coffin of Detroit.