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So, it's not the collapse of the credit market?
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In GMs case.. No it is not. GM has been losing billions a year since 2004. CAFE/EPA changes and the credit crisis had not begun. It's the cost of labor.. The cost of labor to GM is 3-4 x that of a labor at toyotas US plants. Theres no way they can be competitive in that environment. The solution is not a bailout. The solution is chapter 11 and the dealer and union contracts become null and void.