The problem with bankruptcy--absolutely nothing.

Millions of Americans have declared bankruptcy over the years. Same with businesses big and small.

There have been some notable ones, especially in the airline industry. In the end, the process usually works. More often than not.

So why are we making such a big deal about the auto industry having to go into bankcruptcy? If you look at the numbers, there is no other choice.

Over the years the american car makers have lost significant market share, have underestimated the loyalty of americans to buy american made cars, and have run up huge liabilities to fund somewhat ridiculous retirement plans for its workers.

Let the natural business process take its course. If they are meant to survive, bankruptcy will not stand in the way. It may be the only thing that may let it happen.