As it stands, if those outstanding warranties are not to be honored, then every GM car owner who needs warranty-able work will be forced to pay out of pocket; that's a magnificent incentive for that car owner's next vehicle (which will obviously be purchased sooner than otherwise anticipated) to be anything but one coming out of Detroit.
This isn't a bailout, it's a torpedo.
Why is the current occupant of the Oval Office so hostile to American companies? Why is he so determined to destroy them?
Yesterday while discussing this, I was under the misguided impression that pre-existing warranties would be honored. That was the only reason I could even support the plan. Now that I know it doesn't, I am adamantly opposed to it. If people don't have confidence in GM, it's GM's own fault. Let 'em fail. If people buy a GM now, they are asking for issues in the future and deserve to have to deal with those issues.
(Just don't ask me to say that to PETA....I'll never keep a straight face! )