Do you realize how many companies the US Gov't has bought out? Do you understand the blow that filing Chapter 11 would lay on the industry? You think unemployment rates are bad now, Chap 11 would have doubled that. Sure they could renegotiate with the UAW, but the automakers would also screw the suppliers in the industry. The american people have long lost faith in majority of the American brands.

GM filing bankruptcy would land them in the same FAILBOAT. The banking system is crippled and the gov't would STILL have to step in to help fund the $50 billion process of Chap 11. If this was a normal scenario bankruptcy would be fine. Immediate changes would begin (plant closings, product cancellings, etc.) to begin the restructuring process.

My biggest gripe is that I feel the money will not be used in the most effective and effiecient manner.

So yes, I have gotten my common sense. It's easy to say let them fail, but in THESE times, its easier said than done.

You seem smart, but you miss details