In response to:

The Auto Bailout Failure Is Now Complete

Dr_Zinj Wrote: Dec 20, 2012 1:14 PM
The Communist in Chief was wrong, as usual. GM should have been allowed to go into managed bankruptcy. That way it would have been dissolved, or more likely, restructured to be leaner and cost effective, at very little cost to America. Trust me, the bail outs did more to damage our economy in the long run than letting things fail.

You may recall that during the presidential election, the Treasury Department refused requests by General Motors to unload the government's stake in the giant automaker.

Taxpayers had sunk $50 billion into a union bailout in 2009 and were now proud owners of 26.5 percent of the struggling company. Reportedly, GM had growing concerns that the stigma of "Government Motors" was hurting sales in the United States. At the time, any transaction would have come at a steep loss to taxpayers and undermined the president's questionable campaign assertions that the auto union rescue had been a huge success.