Looks like the Federal Goverment is bent in helping the big three (now becoming the "small three"). I think the goverment can't let these companies go bankrupt as this will definitely affect the devastated US economy. There are some people who think that these three should be saved. They said that if the US goverment spend billions of dollars in Iraq and Aghanistan, helping other countries, why not spend money in helping its own people. By not helping these big three will result in unemployment. So why not helped them to avoid adding percentage in the rising unemployment rate?
Another problem in this bailout is the stand of the Unionist. They don't want pay cut to be implemented now to be realligned with Japan job pay. I think they want it only after 2010.
Let's pray that they find a common ground to work it out and come up with win-win solution to the problem.
On the other side, stocks are up today. I have MEG shares which I will be selling even if I will only earn a few bucks. I am still on my plan of buying shares come February 2009.
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