[Truth]

I absolutely support the automaker bailouts. The repercussion of them failing would have been disastrous.

Not true. General Motors and Chrysler would have gone through Chapter 11 Bankruptcy (Reorganization) and come out of the process in at least as good and probably better shape than they came out with the handout. The taxpayers would have certainly come out better.

Through the years, many coroprations, small and large, have availed themselves of the protections of reorganization and have done fine. One such corporation was Walt Disney Productions.

The bailout set a bad precedence. The reorganization would not have done so. That is fact.