Tomorrow GM will make an announcement to "Align Business to Current Market Conditions."

Ouch.

Expect huge cuts in production, brand sell-offs and who knows what. GM sales are off 16% and the stock is selling for less than a pepperoni pizza.

When Chrysler hit the skids in the late 70s, Washington stepped in. Will there be a similar bailout for GM? I understand very, very preliminary discussions are underway about whether Washington might have a role here.

But there are some problems. Simply put, General Motors is now more like Corporal Motors.

And that's not only an economic problem. There's a political mark to market going on here. When GM shuts factories and loses jobs, it loses clout. Members of Congress are willing to help a company in their district, not a company that used to be in their district.

Not only that, most Democrats have little affection for a company they believe stiffs them on fuel economy and environmental concerns. Many Republicans consider the automakers to be quasi-socialistic operations that caved into the demands of their unions for ever-expanding benefits.

All this means that, were a Democratic Congress to step in and offer help, the political price would be high in terms of environmental concessions on fuel economy and pollution standards.

Call it a bailout wrapped in green.