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NW, I understand your 3 points... but I have to ask: Why save the big 3 when you can have THE BIG ONE (Ford since it's doing the best out of the 3) survive and let the other 2 companies follow thier failed path?
Demand for cars in general is going down. You have seen the numbers. Demand is 60% of what it was last year and it will continue to decrease.
Bankrupky does spell doom for a car company because nobody will buy a car from such a company... thus liquidation is necessary. But think of how much Ford would benefit from being the lone american car maker. I can see the ads now.
A gem cannot be polished without friction, nor a man perfected without trials. ~Chinese Proverb
The early bird gets the worm, but the second mouse gets the cheese. ~Jon Hammond