I propose to let the automakers fail but to an extent. I would put a congressional chairperson to oversee every action each car company does with the new bailout money. And impose strict guidelines in terms of emissions like California on the new vehicles made.

--OR--

Let the automakers fail and instead inject money directly into all the other smaller car companies that are much more focused on fuel efficient cars like Telsa and a few others. This would create a new auto market where instead of a few companies owning the industry, there would be dozens which could possibly spur more manufacturing jobs and more competition in the long haul. The big 3 would still exist but would be restructed most likely under bankruptcy claims.

Thoughts? Suggestions? What you think?
The only problem with both letting them fail and giving them money is what will happen to the 2.1 million people who are employed by them?