If GM and chrysler failed then the US auto manufacturing base would be lost. Ford would likely have failed as well as the parts companies supplying the D3 have 60% of their business slashed and would fail or have to charge much more per part to stay afloat. Dealerships selling these brands would go under as well. Unemployment would be devastating while $15billion is a drop in the ocean of federal deficit
Yeah, let's keep up with these failed "plans". We're so far in debt, what's a few more billion? You know, just in case.
That sounds fantastic to me, these companies are bloated and old and uncompetitive not to mention corrupt, (suppressing the electric car and green tech) they need to be replaced by smaller startups more in tune with the wants and the needs of the people.
Unemployment wouldn't have changed much at all. If anything more job opportunities would arise once new managers were allowed to take over the plants. Bailouts only cause resource mismanagement and waste, which is bad for the economy. We could have 0% unemployment if we destroy all machinery and did everything by hand. Does that sound good to you?