rmc22

[QUOTE=Steponme,May 17 2010, 02:11 PM] The main cause was the economic meltdown, not because of the auto subprime loans.

sahtt

The main cause was decades of poor management and poor business decisions. Economic recessions are part of the business cycle, they would have been sunk either way because their business model was flawed, over flowing with debt and unfunded liabilities (sound familiar?). If you look at the 2-3 year period before the recession, several domestic auto makers were barely profitable relative to their competition during the greatest increase in car sales in history (and at the tail end of the greatest economic expansion of history).