That's the message we got from General Motors' CEO Rick Wagoner's appearance on CNBC this afternoon. Here's the best argument for a bailout he could come up with:

WE DON'T THINK ANYTHING POSITIVE WOULD COME OUT OF CONSIDERATION OF REORGANIZATION. I'VE SEEN PUNDITS WRITE THIS STUFF BUT YOU CAN'T SELL CARS TO PEOPLE UNDER THAT CIRCUMSTANCE SO I THINK IT WOULD BE A DEVASTATING IMPACT, NOT JUST FOR GM, IT WOULD BE A DOMINO EFFECT ACROSS THE WHOLE INDUSTRY.

I'M NOT GOING TO SPECULATE [ABOUT BANKRUPTCY] BECAUSE WE DON'T THINK ABOUT IT FOR A SECOND. IT'S NOT AN ISSUE OF GM, BUT THE WHOLE DOMESTIC INDUSTRY. THE INTEGRATED SUPPLY BASE IN 50 STATES, DEALERS. THE IMPACT WOULD BE DEVASTATING FOR THE U.S. ECONOMY AND, YOU KNOW, I READ THE PUNDITS LIKE YOU DO, I SUSPECT THESE ARE THE GUYS THAT WERE SAYING LET LEHMAN BROTHERS GO, TOO, AND WE SEE THE IMPACT THAT THAT HAD. THAT'S A PIVOTAL ISSUE FOR THE U.S. THE FACT IS THAT THE PROBLEMS IN THE AUTO SECTOR ARE A DIRECT CONSEQUENCE OF THE CREDIT CRISIS...

See Also: Don't Do It, Obama. Don't Bail Out Ford And GM