London - World markets fell Friday amid concerns about the future of the U.S. auto industry following the Senate's rejection of a $14 billion rescue deal. However, the declines on Wall Street were less than futures markets were predicting ahead of the opening bell on indications that the White House is considering diverting money from the Wall Street rescue fund, or TARP, to stave off bankruptcy filings among the automakers.
The Treasury Department said it stands ready to "prevent an imminent failure" of the auto companies. By CARLO PIOVANO, AP Business Writer
Yes, they need to be totally restructured.
Yes, they have made serious and long term mistakes for decades.
but, do we really think we should let this collapse right now in the framework of 1/2 milllion jobs already lost this year? I.think.not.
