In my opinion, we can’t allow the U.S. automobile manufacturers to fail and go out of business. I am firmly convinced that they should not have to go into bankruptcy. If that occurred, the fallout around the world would be an international disaster for the United States. While I believe the federal government must save this industry, it must be done in such a way that there are extremely strong controls imposed on each company. A major change in management with a cap on executive salaries is a necessity. The ripple effect on our nation’s economy if this industry is allowed to collapse, with a massive loss of jobs, would be an economic and social disaster that would be impossible to overcome. Hopefully, the Bush Administration and Congress will have taken strong corrective action by the time this issue is received. Once the new President is in office, his Administration and Congress will have to follow up to make sure the automobile industry is saved.
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