Michael Moore is in favor of a bailout for the auto industry but only with a lot of conditions. In a Wednesday interview, Moore told Larry King that the Big 3 car companies should face mandates to build mass transportation and automobiles that use little or no gas. Also, Moore wants to see "a whole new management team."
Moore thinks that the United Autoworkers Union (UAW) has taken enough cuts in their pay and benefits. "The UAW has -- has given back so much to General Motors and the other companies. I'm stunned, actually, at how much they've given back. I think they've given too much back, frankly," he said.
The future looks bleak for the current financial system, according to Moore. "I think, really, what we're seeing here right now with them, with the banks, we're seeing the end of capitalism -- the end of capitalism as we know it."
A full transcript of Moore's interview is available here.
This video is from CNN's Larry King Live, broadcast Nov. 19, 2008.