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Automaker bailout leaves Americans uneasy

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The proposed $25 billion government-backed rescue package crafted for General Motors Corp., Ford Motor Corp. and Chrysler LLC has left many Americans doubtful of its outcome, Reuters reported.

“It’s like nature’s law: Only the fit survive,” said John Berrotto, a 50-year-old security director in New York. “Sometimes companies just don’t make it.”

“Everybody is trying to claim they are poor,” said Scott Porter, a 34-year-old attorney in Los Angeles. “Everybody wants a handout. This (financial trouble) is something that’s been a long time coming.”

The three automakers have lobbied Congress for money to help them restructure, and Congress is expected to pass a plan during the post-election session of Congress that starts Monday. All three automakers claim Chapter 11 bankruptcy is not an option.

“If they don’t do it, a lot of people are going to lose their jobs,” said Kevin Austin, a 36-year-old car mechanic in Atlanta. “But every big company is getting a bailout, and the little people don’t. I don’t see why it’s a massive emergency all of a sudden.”

Yet automakers are in dire search for an answer, as stakes rose on Friday at the announcement that Goldman Sachs Group Inc. suspended its rating on GM and said the automaker needs at least $22 billion for survival, and added that it would be difficult for Chrysler to survive without financial help.

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