I wasn't in favor of the first bailout (which is turning into a large cluster - imagine that) and I am not in favor of this one.
Best thing they can do is let these companies go into Bankruptcy and let them fire the current management, dissolve these idiotic Union contracts, and for the love of God, get rid of some of the crappy lines they produce. Let them come out of bankruptcy with better management, without these Union anchors hanging around their necks, and a streamlined product line and they may actually be able to compete with Toyota/Honda without a bailout.
Unfortunately, this kind of thought is completely gone in this country. We will bail them out in some way and just like the financial bailout, it will be a cluster.