That’s what Bloomberg claims, trying to make the case that the opposition to the Big Three bailout is all being driven by senators who have foreign carmakers plants in their states.

Well, wrong. Or, at the least, Bloomberg’s story is incomplete, and excludes information undercutting it’s argument.

For example, Toyota has its huge plant in Kentucky, and Mitch McConnell hasn’t weighed in one way or the other on the baiout

GM’s No. 1 SUV plant is down here in Arlington, a stone’s throw away from the new Cowboys’ stadium, and Kay Bailey Hutchison hasn’t said anything one way or the other either.

I am with Josh Marshall on one thing. If it looks like the General faces liquidation rather than “just” bankruptcy, let’s have the government structure either a slimdown or a takeover.

I think 1 million potential lost jobs from a GM liquidation is a bit of high-side hype re the formerly "Big Three.” Beyond that, the remaining two would join Japan in vulture-feeding on whichever one of the formerly Big Three goes down first.

That said, if a government-facilitated restructuring included allowing foreign carmakers a shot at takeover, and no strings attached on how many or how jobs and plants they would keep, I say let Toyota fire away at acquiring GM.