I am just curious and wonder if the 3 auto company collapse what would happen in today economy?
I am just wondering because i hear several things that the 3 auto company should not get any loan or bailout money because they use their money for bonuses and increase salary and flying expensive air planes and all.
I am confused about all this.
They may just end up filing for bankruptcy. This would force them to restructure their companies and invest in future automobile developments that would be more economically for the average joe. But, this probably will cause the US economy to go into a deeper recession since more people will likely be unemployed which in turn will in all likelihood increase the number of foreclosed homes and credit card/loan defaults.