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Oct 29, 2008 -- Detroit automakers seeking federal bailout

The Detroit automakers -- already getting $25 billion from the government -- are now back on Capitol Hill looking for more money. In addition, GM and Chrysler want to merge and shift the responsibility for workers' pensions to us as taxpayers.

This may sound insensitive, but the reality is that workers always pay for the mistakes of management and benefit from their good decisions. Today, the Big 3 have too many factories and too many workers for what the marketplace demands in terms of vehicle production. There are also too many dealerships in the equation.

Clark is opposed to a private bailout for the automakers. By the way, this is 2 party deal with both Democrats and Republicans wanting to look like the good guys bailing out Detroit. But who's looking out for we the taxpayers?

And here's the dirty little secret that many people aren't discussing: Even if the GM/Chrysler merger goes through, there will still be massive layoffs and many dealerships will close.
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