More than three-quarters of Americans would rather General Motors Corp. and Chrysler LLC be forced into bankruptcy before taxpayers lend them more money, according to a CNN/Opinion Research polled released on April 9.
Of 1,000 people questioned from April 3-5, 76% said they preferred the automakers go through bankruptcy, while 22% said they would support additional government loans. The remaining 2% apparently had no opinion.
The survey also didn’t clarify whether respondents’ opposition to additional loans included the $16.6 billion in additional money the government has offered to lend them if they meet certain criteria by May 1 in the case of Chrysler and June 1 for GM.
Despite President Barack Obama’s pledge to guarantee the warranties on new Chrysler and GM vehicles if they do file for bankruptcy, 27% told CNN callers they were "not likely at all" to buy a car from a company in bankruptcy. Nearly one in four, 24%, said they would be “very likely” to buy from a bankrupt automaker.
Only 37% said they thought bankruptcy for either company would cause major problems for the broader U.S. economy, down from 51% when the same question was asked in December. Slight more, 44%, said an auto bankruptcy would only cause minor economic problems.
