Auto Bailout Hearings: Live BlogBy
9:53 AM: CNN reports that a CNN Opinion Poll shows that six in ten Americans are flatly against bailing out the U.S. automakers. The Big Three have a combined market share of about 45%. So, right off the bat, 55% of the country has considered an American car in the last year and passed. Now, consider the number of people who have shifted away from Detroit brands in the last few years. The point is that such a poll may measure the opinion, the feelings, of the moment. But it doesn’t have anything to do with whether or not allowing the automakers to go bankrupt would be dreadful for an already awful economy, pushing the Recession into a Depression. If not acting to help the industry stay clear of bankruptcy pushes the U.S. into Depression, will the same people ask their lawmakers: Why did you listen to us?
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