Somethng I haven't heard discussed about the Big 3 bailout

[southerncrone]

is their tie to the financial melt down.

All of these companies have as a large portion of their businesses, financing divisions.
I remember in the late '80's or early '90's that Ford (& I believe GM, too) sold off, or spun off, many of their component parts divisions in favor of focusing their efforts on strictly designing, assembling & financing vehicles.

GM has further diversified their finance division to include mortgage financing, & GM is supposed to be in the worst shape of the Big 3 now.

They can try to spin it however they like with arguments about $70/hr workers, crappy products, poor marketing, etc. But the bottom line is those companies engaged in large financing operations are now suffering greatly. Look at how many banks have gone belly-up. AIG, Lehman Bros., etc.

The Big 3 are heavily engaged in the financing industry, so they, too, are being effected by the financial melt down this country is now experiencing.

Why is this not being mentioned?
I haven't heard any of the CEO's mention this, but maybe I just wasn't listening to, or reading, the right news sources.
If it has been mentioned, please direct me to that source.

Could it be this is simply about union busting?
Otherwise, why would they not mention it?

[fob]

1. I don't know about the finer details of that, but I've been wondering

why GM didn't show up as GMAC and ask for some funds as a banking type entity. They wouldn't have to put any plan in place for that apparently.

[southerncrone]

3. The GM mortgage financing company is DiTech.

I'm sure you seen their ads.
I believe they may be included in the $70 billion hand out, but will have to do some research on that.

Here's some info on them:

http://en.wikipedia.org/wiki/Ditech

edited to add link

[bertman]

2. Excellent point, southerncrone.