Wednesday, December 3, 2008

The Domestic Automaker Bankruptcy... continues. This LA Times story explains what we've been reporting for awhile now: GM could go under soon with Chrysler close behind.

As someone who grew up in the Detroit area, I'm a nostalgic fan of the domestic auto industry. However, what reason have these companies given taxpayers to believe that these billions in bailout dollars is not simply a PAUSE button on the road toward a final crash?

Very little from everything that I've read. Stay tuned.

UPDATE: More insightful analysis from the Econobrowser blog on the domestic automakers ongoing death dance.

UPDATE #2: "Forgive me for not believing a damn thing Ford says." So says Mish Shedlock. Click here for his explanation of why.