I am one of those old-fashioned believers in free markets (I think that is what made our country great) and that is why I never supported spending a even dime bailing out Wall Street. These are the same crooks that sang the praises of free markets and why they should be left alone but when they screwed up, they line up with a begging bowl asking for help from us when they screwed American people every day.
Now why do I want to give some help to the carmakers?
Merely as an act of charity to millions of fellow Americans who would otherwise lose their jobs right away. Sad as it is, but like steel or apparel or software development, it makes no sense for us to make cars and it is in our best interest that our car companies eventually shut down. They make lousy cars, they do not want to change their business models, and they have too many other structural problems.
By giving them some money right now, however, we will just postpone the pain for workers, maybe by a few months to an year or two. To lose a job right now means that these workers will be unemployed for a very long time putting a big strain on our economy. However, I am expecting that in 6-9 months, we should see an economic recovery, and if these companies go out of business around that time, the laid off workers can find alternative employment rather quickly.