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The Auto Bailout Failure Is Now Complete

lee2012 Wrote: Dec 20, 2012 3:13 PM

Ok. Let's agree that neither one of has a time machine nor a crystal ball. That means my assessment & yours is really our "guess" at what GM would have looked post-restructure. With that said, perhaps we can agree that GM would have shrank considerly, with fewer brands. Is that okay? If so, are we not also saying many many jobs go up in smoke? My guess is you have seen a restructure or two & so have I. That's devastation considering the size of GM and all of the tertiary vendors etc. Again, you are using a business perspective (mentioned in the original post) & I think its like judging a movie like The Matrix with a Citizen Kane yardstick. See it for what it was... a bailout!

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The Auto Bailout Failure Is Now Complete

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.

Well,...

Related Tags: General Motors Jobs and Economy auto bailouts taxpayer money