So GM and Chrysler may need as much as $39 Billion just to stay in business for another year or so? My guess is they will get it but not until there’s a bit of political finger wagging and tsk, tsking. Oh yeah, there will be some corporate penance to be paid and some lip service about labor but in the end they’ll get the money. Why?
Because the car companies are the conduit for financial support for tens of thousands of workers all of whom belong to the UAW. And in turn those workers are just conduits for their UAW dues. And those dues are the basis for huge (over $500 million in the 2008 election year for Democrats!) campaign expenditures and political donations. Not to mention the tens of thousands of “volunteers” and of course, the voters. Almost all of whom will be sure to vote Democrat in thanks for saving their jobs. So, yeah, the car companies will get their bailout. And a huge chunk will end up in Democrat coffers just in time for the 2010 election cycle.