Let’s cut out the middleman. If we (taxpayers) are to OK the deal, it will inflate the national debt and require T-bonds to be sold bought up by.....the Chinese. Why not sell the “big 3” to China and cut out the middleman?
Really.
Option A: US car makers go broke and the industry is taken over by the Japanese.
Option B: US car makers get bailed out and the US itself is progressively owned by the Chinese.
Given the choice, I'd prefer to be owned by the Japs.