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Why fight the inevitable? Why should the government sink untold billions into a sinking ship? GM has proven it can't make cars that will either compete in quality with the big Japanese and even Korean manufacturers, and when China and India get in on the action, they won;t be able to compete on price for lower quality autos either.
Yeah, it'll hurt short term, but I don't favour government bail outs of such a long term sickie as GM.
Bailouts should be reserve for industries and companies which are in short term difficulty but who will likely turn things around. That's not GM.
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Si vis pacem parabellum.
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