So we give GM and Chrysler billions of taxpayer money…and low and behold…they end up in the same place they were going to end up anyway. Let me get this straight here, if the total capitalization of GM is $3Billion, and we’ve invested $20Billion, shouldn’t the government own 700% of the stock? And, then aside from the math, who on earth thinks paying 7x the value of something is acceptable?
So if GM does go bankrupt (which they are), what’s the recourse for the billions of taxpayer money that we’ve invested so far? What about all those who 3 months ago called Capitol Hill SCREAMING MAD at our politicians NOT to bail out the industry because we saw this coming. At what point do they stop with the ‘its all built in’ nonsense? Millions of people unemployed. Millions more losing their homes. Hundreds of companies are posting huge losses but yet the market continues to climb north. Wow, I wonder how long it will take before everyone actually realizes the shape this country is in…or are they just gonna continue to buy into the illusion?
No big deal guys, just pay it when you can, okay?
