Big 3 Bailout? What's your opinion?

Unless you've been hiding under a rock for the last few weeks, you've probably heard by now that our Congress is set to pass a bill to our big 3 Automakers in Detroit giving them anywhere from 15 billion to 34 billion dollars in order to get them out of the financial predicament that they've gotten themselves into. These companies, which once stood for everything that was great about America, now seemingly represent everything that has gone wrong as well. Some would say that the revenue that they did make was grossly misspent, on such extravagances as corporate jets and overpaid employees. The same folks also say that they continue to peddle vehicles that we no longer need or that are good for our environment. Now to be fair, by not giving them the cash they need, and soon, it may mean layoffs of up to 300,000 people, forcing the companies into bankruptcy, further damaging our already fragile economy and quite possibly sending us from a recession into a depression, one in which will most likely affect us all in a way unlike we've ever seen. This in turn would affect thousands of other companies who rely on the big 3's solvency for their livelihood. Companies such as local auto dealers, parts suppliers, and others who also have families to feed and morgages to pay. Bottom line is, there really is no easy fix, but what are some of your thoughts on the matter?