The government will have to take over the pension funds if GM and Chrysler go under. It will cost more if they go under.
You think Dodd and Frank are incompetent, and that they will be somehow running the auto industry. Neither of these "facts" is true.
The main reason cars are not selling is a lack of financing. The banks are not allowing people to borrow against the equity in their homes.
New cars in the US are often bought by people who do not actually need them, Faced with hard times, they are
simply not buying.
Watch and see, the Republicans will not filibuster anything. They don't have the votes, and at least some of them are too smart to do this. Not gonna happen.