This article was on the front page of the WSJ today. You can read it here:
Using tax payer funds to rescue the big three has been getting more attention over the last few days. General accounts seem to emphasize that congress needs to save the "US auto industry". The US auto industry actually goes far beyond the big three as they have steadily lost market share over the last few decades.
In order to better understand the layout of the problems of the big three (ford, gm, chrysler), I read this article a few weeks ago. Note that it came out a bit before the election.
Finally here is an Op/Ed piece that appeared today in the WSJ.
Obama's Car Puzzle
My two cents is that using public funds to rescue the big three is unacceptable. I cringe at the job losses that are sure to follow if any of the big three collapse. However I don't believe it proper use of taxpayer money to prop up the UAW and Big Three management, when there are other manufactures in the US that don't need or want public funding. It seems that the only reason that the UAW is getting any voice with Obama is that they were a significant campaign contributor....