[Senator_Blutarski]

"If GM and Chrysler are allowed to go in bankruptcy they will not come out," McCotter said.

So GM is in such bad shape they can't survive bankruptcy, but we should still pour billions of taxpayer dollars into a lost cause? Nice logic...

[Kegger]

So GM is in such bad shape they can't survive bankruptcy, but we should still pour billions of taxpayer dollars into a lost cause? Nice logic...

I agree that GM probably needs to declare chapter 11. However, who do you think is going to provide all that DIP financing? (hint: taxpayers)

While this may improve GM's business model by throwing out bad contracts, taxpayers will still be on the hook for bailing out GM.