See What People Are Saying About... An "Orderly" Bankruptcy For Automakers
President George W. Bush said on Thursday that U.S. automakers were in fragile condition and although bankruptcy remains on the table, he's worried about the impact a "disorderly bankruptcy" might have on financial markets.
It's widely believed Bush is weighing two options.
1) An "orderly" bankruptcy.
2) Tapping into a $700 billion financial industry bailout package.
"I haven't made up my mind yet," Bush said.
Perhaps he should consult the Fast Money audience. We have lots to say.
Mike P. writes, "First of all, this is no such thing as a "managed bankruptcy". There is a bankruptcy and there is a free fall bankruptcy which often leads to a liquidation. GM is facing a free fall bankruptcy."
Jeff W. writes, "Should the auto makers go into bankruptcy? YES!! I believe there's no other way... TARP funding is only a bandaid on the massive wound. Stop the bleeding and get bankruptcy protection."
Meanwhile Kenny H. brings up an interesting point about backlash. He writes, "Did anyone ever think that there will be public backlash from the 60% of the country who opposes the auto bailout?... I've heard from many people and I feel the same way that if they get my tax money... I will NEVER give them a dime for a car.... EVER!"
And Andrew S. suggests that Bush consult with Sen. Bob Corker (R-TN). "I thought that Senator Bob Corker's plan was fantastic. It addressed the problems the U.S. automakers face head on. I think that it was disgraceful that the UAW would not agree to a date where their members salaries would be reduced to be competitive with foreign auto companys payrolls for their U.S. workforce."
And that leads to our Fast Money Reader Poll. Which option do you prefer for the car companies?
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CNBC.com with wires