They can *not* go Chapter 11, the credit market simply isn't there any more...that leaves Chapter 7, which is LIQUIDATION.
I think if they could limp to 2010 (which is when they get out from under the UAW's healthcare/trust agreement) then with a little reworking they could survive...but it's looking like our Congress would rather the Big3 fold, and we simply import everything else for the rest of our lives (assuming anyone left has any $$$ to do buy anything!).
And as for house cleaning, how about those strokes in Congress & the banking industry that forced the better part of this hand? I won't hold my breath on that...
