I think my response to a NY Times article today is worth reposting here:
I’m sorry but the truth is, if it weren’t for the credit crisis, the Big 3 would have continued selling their vehicles just fine. Would their marketshare have continued to slide? Yes. Is “making cars the people want to buy” the problem? No. The problem is with the media and how they are so happy to avoid blaming the Big 3’s troubles on the financial institutions that have imploded. No industry that relies so heavily on credit to operate would survive this situation. It’s just easier to point to the car makers and say they aren’t building what people want. Then explain to me why the other foreign car makers applied for loans and got them. Is it because they weren’t building cars the people wanted? Time for the hypocritical media to stop spreading this nonsense and the ignorant public to wake up.