No bailout because it would only delay the inevitable.
The impact of that decision would rock the economy. But the industry's collapse could create a better economy in the future.
Every corporation would be forced to look beyond the next quarter and build enterprises that are sustainable in tomorrow's world. They failed to learn this when the "new economy" crashed. But the disappearance of an industry that in many ways symbolizes America globally would end the charade.
Much is written about the "ripple" effect of an automotive industry collapse. But the parts suppliers and the banks are all part of the manufacturers. Many would disappear, but those left would be forced to find new ways survive and prosper.
And the workers? The children of the people who worked in manufacturing would be forced to realize that the lifestyle afforded by unions and acquiescent companies is over and that education and mobility are essential to a decent life in the future. Their parents never understood that and that's why they suffer now.
