More Political Analysts Weigh In: Give Automakers the Money!

This particular round table includes a Nobel Prize winner in Economics, guess what they all say? Give GM the money. Plain and simple, the nation would face far worse consequences (and a higher cost to taxpayers) by allowing GM to go into bankruptcy. To listen in, click here and forward to the 9:45 time mark.

My concern is this: it looks like nothing might get passed this week. If that is the case, then a more sympathetic congress won't reconvene until January 20th. The question has to asked, can GM make it that long? A few weeks ago, I would have said "Sure, they'd easily be able to make it to Q1 2009!" But now I'm not so sure. GM is putting on a full court press, trying to shake the money tree lose this week. If I had to wager, I'd say that GM could sweat it out, but it might have to pull out all the stops and there aren't that many left to pull. I suppose that GM could pull a Chrysler and tell all white collar workers that they are taking a mandatory vacation. The problem is, if buyers start to smell real desperation, then sales could fall off even further, causing more cash flow worries.