
December 3, 2008
Detroit's Big Three made its case for a taxpayer rescue yesterday. Ford asked the government to throw it a $9 billion lifeline, one that it does not expect to use but needs as a safety net. GM has asked for a total of 18 billion, while Chrysler is reportedly asking for $7 billion.
But some, like this opinion piece in the Wall Street Journal, argue that a bailout for Detroit could be unfair for foreign car makers.
"The international car makers aren't cheering for Detroit's collapse. Their own production would be hit if such large suppliers as the automotive interior maker Lear were to go down with a GM or Chrysler. They fear, as well, a protectionist backlash. But by the same token, a government lifeline for Detroit punishes these other companies and their American employees for making better business decisions."
For the full article, click here.