Detroit's Big Three auto makers are running out of time in their quest to convince skeptical lawmakers that Congress should throw them a $25 billion lifeline.
Top executives from General Motors , Ford and Chrysler returned to Congress Wednesday, appearing before a House committee to plead for a "bridge loan" to give them a massive infusion of cash to prevent millions of layoffs, stave off bankruptcy and stabilize their teetering companies.
It seems that the CEOs are facing a less-than-receptive Senate. The Fast Money readers are less-than receptive too. Ken from California writes, "We should not be bailing out the auto industry. If they made a product the consumer wanted they would not be in this situation."
Mike K. shares the sentiment. He tells us "this request for a loan is just to make it past this credit crunch into profitability again... GM can still make money with uncompetitive labor contracts and has done so in the past."
I looked through our in-box to see if I could find anyone in favor of the bailout but no luck. But in the interest of presenting some balance I did find this comment from Lugie B. He says, "I am opposed to a straight forward funding to the 3 auto manufactures. Conditions under which I would favor government funding are:
1. New management in the highest levels that emphasize quality and fuel efficiency (management driven---not government imposed---nor oil company influenced)
2. Major limitations or elimination of labor unions
3. Restructuring and limiting executive pay to a “reasonable” figure (U S president’s salary
4. Employee pay and benefits more in line with manufacturing in the South
And that leads to our Fast Money Reader Poll?
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CNBC.com with wires