I assume I received the following email because our family owns a GM-made car:

Dear Thomas Bevan,

You made the right choice when you put your confidence in General Motors, and we appreciate your past support. I want to assure you that we are making our best vehicles ever, and we have exciting plans for the future. But we need your help now. Simply put, we need you to join us to let Congress know that a bridge loan to help U.S. automakers also helps strengthen the U.S. economy and preserve millions of American jobs.

Despite what you may be hearing, we are not asking Congress for a bailout but rather a loan that will be repaid.

The U.S. economy is at a crossroads due to the worldwide credit crisis, and all Americans are feeling the effects of the worst economic downturn in 75 years. Despite our successful efforts to restructure, reduce costs and enhance liquidity, U.S. auto sales rely on access to credit, which is all but frozen through traditional channels.

The consequences of the domestic auto industry collapsing would far exceed the $25 billion loan needed to bridge the current crisis. According to a recent study by the Center for Automotive Research:

• One in 10 American jobs depends on U.S. automakers • Nearly 3 million jobs are at immediate risk • U.S. personal income could be reduced by $150 billion • The tax revenue lost over 3 years would be more than $156 billion

Discussions are now underway in Washington, D.C., concerning loans to support U.S. carmakers. I am asking for your support in this vital effort by contacting your state representatives.

Please take a few minutes to go to www.gmfactsandfiction.com , where we have made it easy for you to contact your U.S. senators and representatives. Just click on the "I'm a Concerned American" link under the "Mobilize Now" section, and enter your name and ZIP code to send a personalized e-mail stating your support for the U.S. automotive industry.

Let me assure you that General Motors has made dramatic improvements over the last 10 years. In fact, we are leading the industry with award-winning vehicles like the Chevrolet Malibu, Cadillac CTS, Buick Enclave, Pontiac G8, GMC Acadia, Chevy Tahoe Hybrid, Saturn AURA and more. We offer 18 models with an EPA estimated 30 MPG highway or better — more than Toyota or Honda. GM has 6 hybrids in market and 3 more by mid-2009. GM has closed the quality gap with the imports, and today we are putting our best quality vehicles on the road.

Please share this information with friends and family using the link on the site.

Thank you for helping keep our economy viable.

Sincerely,

Troy Clarke

I think Mr. Clarke might have gotten carried away with his finishing flourish, suggesting that the entire American economy will no longer be "viable" if GM is allowed to fail.

Indeed, having read the arguments on both sides fairly extensively, it seems to me the "let GM fail" crowd has put forth the far more convincing case.  (The best of the bunch is probably yesterday's piece by Michael Levine in the Wall Street Journal.)

GM is undoubtedly hurt by the fact (which Mr. Clarke conveniently failed to mention in his email) that the company received $25 billion in low interest government loans a mere seven weeks ago and is already back at the trough asking for an additional $25-50 billion. (CORRECTION: The $25 billion in loans was passed by Congress for all three automakers, not GM exclusively, and has yet to be disbursed.)

Furthermore, after the way the financial crisis was served up to the public such in apocalyptic terms and yet the world (and the economy) didn't come to an end, it's a lot tougher for GM to sell the notion that it's too big to fail or that reorganizing through Chapter 11 is somehow going to cripple the US economy. Outside of Michigan, I'm not sure that dog hunts.