Sunday, November 21, 2010

General Government Motors

It would be very nice to believe that General Motors' recent IPO represented the successful culmination of a multi-billion dollar bailout, especially since that bailout was combined with the General Government's flaunting of the rule of contract law.

The rescue of the UAW was morally hazardous, ethically reprehensible and accomplished on the backs of taxpayers - the majority of whom objected to the transaction. It would be nice to believe jobs were saved and taxpayers profited. It would be the very minimum definition of nice, and it would still be BS.

The Cadillac of Bad Ideas

Did the Auto Bailout Really Save One Million Jobs?

It would even be nice if General Government Motors applied a lesson already learned:  Buy what you want or need instead of compromising. Makes great sense

But the General Government has insulated General Motors from that lesson. You are meant to buy a Chevy Volt.  Not some car you actually want.

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