US automakers (GM, FORD, and CHRYSLER) were denied the $25million dollars loan from the government. The lawmakers wanted to have detailed plans for their turnaround.

This is totally insane. I work for the automotive industry as well, actually a Tier 1 for all automakers and I am very much feeling the pain of this crisis, in fact my company has laidoff 80 percent of our workforce already.

If these companies goes down, everything else goes down. I know the lawmakers knows this but I am not sure if they realize the bigger picture and the longterm effect.

Here in Michigan, there is nothing here that does not deal with the automakers. Which means that when the automakers fail here, Michigan goes down the drain. I dont think the US will allow that to happen, just like England, Italy and France they all lost their automakers, its all been bought by their competitors now. It is America's pride to keep these companies float.

And the scary thing is that TATA Motor Corporation (an Indian automaker) is willing to buy these companies. In fact Ford has started selling. TATA now owns Jaguar, Land Rover. TATA is also interested of buying Chrysler now.