Negotiations in the United States Senate over the bill to provide government assistance to U.S. automakers collapsed tonight, a victim of disagreement over wage concessions by the U.A.W. The Republicans in the Senate appear prepared to roll the dice on a bankruptcy filing by G.M., and the U.A.W. appears willing to let that happen to avoid bowing to Republican wage demands. Essentially it appears that the Republican negotiating position demands immediate wage rollbacks by the U.A.W. to levels earned by non union factories operating in the U.S. It is an amazing thing to me that both sides appear willing to take this chance. We will likely soon find out if the theory that bankruptcy could be helpful to G.M. is right or wrong. A strong management team at G.M. will be needed to guide the company through bankruptcy. It is not the team in place today. The G.M. Board should exercise its fiduciary responsibilty here and fire top management immediately if bankruptcy is the route. The Board should also be put on notice that failure to properly discharge its responsibilities will have legal repurcussions that could extend to personal financial and other jeopardy. Proper criticism has accrued to the arrogant incompetence of management, but the Board, with the duty to oversee management, has failed miserably and collected fat fees while allowing this catastrophe to unfold. They should be held accountable.