Here's what I think we ought to do about America's auto industry.
Since the American car companies used their profits from the good times in this country to buy other companies overseas. The government should take GM, Ford and Chrysler's foreign holdings as collateral for any loans they make. In Chrysler's case that won't be much but GM and Ford both own large operations overseas plus considerable chunks of other foreign car companies. And if for any reason the American companies have to default on their pension obligations, then the Government can use the collateral to cover the federal governments pension insurance obligations to them.
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