Save the Auto Industry, The American Way

All money should be invested in preferred stock that pays taxpayers a dividend and must include warrants to buy common stock with a strike price slightly below current stock prices. No more anti-taxpayer deals from Treasury.

The auto industry faces distinct challenges. There is a national recession and I promise it will ultimately end and consumers will buy again. There is a credit crisis that will ultimately end and more consumers will be able to finance cars again. There is a bear market in stocks and there will ultimately be a bull market again. There is an exploding worldwide demand for cars that is so huge, and long-term, that there will be exploding profits for the winners and survivors once the pessimism of our crisis ends.

If our industry regains technological excellence when the economy recovers, the credit crisis ends, a bull market returns and exploding worldwide demand continues, the taxpayers holding warrants to buy GM stock at 5 will reap enormous profits when the stock returns to 30. With worldwide demand for autos continuing to surge, the impact would be exponential as generational waves of cars from China to India create massive worldwide energy savings and profound worldwide environmental benefits while stimulating a mini-New Deal generation of jobs and progress at home.

Let's give workers an equity stake in success and a proud patriotism in which every industry job is a green job. Let's give consumers the thrill of buying a car they love in the greatest energy and global warming program in modern history that will rebuild our economy, promote our security, protect our planet and remind us what a great and confident country we are.

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