That said

There's no reason to give the automakers precisely the bailout they've asked for. I'm sure everyone has ideas for how things should be structured, but I'll just say that three things I'd like to see are much tougher mileage and emissions standards going forward, investment targeted at the development of alternative fuel technologies, and a scalable program by which the federal government could take over the legacy pension and healthcare obligations that infect the balance sheets of the big three.

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