I am a fan of the automobile industry. The US automobile industry provided the fabled good job at good wages and many a family were raised on that paycheck. That was then, and this is now. The truth is the industry for decades has manufactured cars that they wanted to sell not what the consumer wanted to buy. When Volkswagen, Toyota and Datsun (now Nissan) came onto the scene the US manufactures laughed. They were after all the big 3. Now Toyota is the worlds leading car manufacturer. You can say what you like but you cannot deny the company is well run and makes fine automobiles. More importantly in business, they make a profit.
If the big three file for bankruptcy what will happen is any body's guess. I believe they will be forced to deal with the bloated salary's, trim cost, in the case of GM drop a line or two of cars but, they will still produce automobiles. A bail out now I believe, just postpones the inevitable. They have been poorly managed for years. Chrysler was saved once and here they are now asking to be saved again. Look at the airline industry. There have been major carriers that have gone bankrupt and some gone forever. However you can still catch a flight and go anywhere you need to go. In a lot of cases you get there for less money. The US automobile industry will not go away. It is time that they take responsibility for the mismanagement of the very companies they now want us to save.
We cannot bail them out because in the end, no money is enough to save them from themselves.