Automobile bailouts?

No automobile company bailouts!Our government should not bail out the auto industry. Doing so would be throwing good money after bad. Let the ax fall where it may. The whole of the US automobile industry requires an update and restructuring. It is bloated and inefficient. We need to become competitive and institute a radical change in management and direction. Chapter 11 bankruptcy may be a good approach. Our government should recognize that the British government attempted to bail out their auto industry (British Leyland) in the 70's and 80s when it was threatened with bankruptcy. The bail out did not work and British Leyland subsequently failed and filed for bankrupt . The same would happen with our auto industry if we bailed out their incompetent management and supported the bloated structure in existence today. I sincerely hope we have learned a lesson from the British.