Many critics of the auto industry argue that bankruptcy is the best choice for the Big Three. A bankruptcy judge has broad powers to let the automakers shed their debts and other obligations, as well as get out of labor contracts that they can no longer afford.

Other industries, including steel and airlines, have used bankruptcies to emerge financially healthy.

There are also questions about whether the automakers could get the financing they need to operate under bankruptcy court. Many lenders that have loaned to bankrupt companies in the past have exited the field in the wake of the credit crunch. And experts question whether the crucial source of funds needed to emerge from bankruptcy would be available to the automakers

Let us be realistic…..the debate on whether to save Detroit or not, is more about breaking the UAW than it is anything else.  The Repubs and their talking heads have for years blamed everything  that has gone wrong on the union and that  thinking has not changed, even after the massive concessions that were given in the last couple of contracts that have been signed.

For decades the Repubs have tried to break all unions as best as they could, look at Reagan and his destruction opf PATCO.  That is why they are firmly behind the bankruptcy thing, it would neutralize the unions and make it easier to br4eak it completely.

The Conserv talking heads refuse to call it what it is–class warfare.  Just look at the bailout of Wall St., did those guys get put thruough the grinder like the auto companies?  I will give you a moment for thought.  The answer is NO!  In case you missed it.

This , if it is successful will give the Repubs the tools for the breaking of ALL unions.  And that will truly be class warfare….corporations will profit, workers will struggle.