November 14th, 2008
03:23 PM ET
14 years ago

Cafferty: Is General Motors worth saving?

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As GM goes, so goes the nation…That’s the old motto anyway. Financially neither one is looking so good right now. And General Motors, along with Ford and Chrysler, is looking for some help from our already cash-strapped government to get back on track. Estimates are if the Big Three go belly up, unemployment could hit 10 percent.

But doubts about a bailout for the auto industry grew yesterday on Capitol Hill as Democratic leaders conceded they don’t have the votes to get a measure through in next week’s lame duck session.

If General Motors fails– and it would likely be the first of the Big Three to fall because Ford is in better shape and Chrysler is a much smaller company– the impact would be huge.

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