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I'm still in the camp that its time to let new car companies enter the field and snap up all these assets that GM and Chrysler are going to let rot.
Maybe even do this by bankrupting GM and splitting it off into specialist companies (i.e. kill off about a dozen copycat models, focus each new company on a core plan/market).
I think we need to get back to the car companies being small enough that they can actually calculate and understand their bottom line again. They are too busy throwing around billions all day that they probably only see a sea of red at all times and are constantly in triage and issuing more bad policies just to stay afloat.
If the government wants to do something, step in and guarantee the old workers benefits (market it as a 'for the public good' move), and take them off the books. Everything else goes into the bankruptcy grinder, personally I'd prefer the company be split rather than left as one giant carcass to fail again (I'd prefer a split out, and let the profitable pieces thrive, and the dead weight just die already).
Finish wiping out the shareholders while they are at it, they already lost 90%+ of everything anyway. Paying billions in loans to save a couple billion in remaining stock value (if that) is just plain stupid.
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