Only where the US plan recently punted by the Senate would have provided a $14 billion loan, the European companies are looking for nearly $55 billion.
And, as Dennis DesRosiers, an auto analyst, said:
"“It’s a foregone conclusion that governments around the world are going to aid these companies. It’s just a matter of working through the politics.”
Note to Republican Senators: If the US automakers don't get guaranteed loans soon, they won't necessarily be taken over by "better" companies, but by ones whose governments realize the importance of not letting a huge industry collapse on the rocks.