A government handout, however, isn't the way to make that happen.
Washington would impose conditions and promise strict oversight, but it simply can't push through the kind of transformative change the industry needs.
The GM aolution: Life boats, not life support
There would be too much political opposition, and regardless, the bailout sums being bandied about - $25 billion of taxpayer dollars, for starters - would only keep the Big Three heaving along, basically as they are.
It's a life-support solution, not a cure.
Image: General Motors world headquarters in Detroit, Michigan. | Photograph: Bill Pugliano/Getty Images
Also read: What makes gold so attractive?
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