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As much as I am a GM fan, I have to say that I am against bailouts for anyone. Not for Wall Street, not for the big three, not for consumers with too much credit card debt. Rewarding failure never works out well. By giving handouts the government is giving any company with a failing business model an excuse to put their hand out. If one or more of the American car companies fails someone else will step up to fill the void. Its not like people are going to be able to not buy a car just because GM or Ford doesn't sell cars anymore.
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