G(overnment) M(otors) progress an illusion

[AztecWilliam]

GM has paid back its loan to the US govt. Great news, right? Hold on, there! Don't get excited. Wait until you hear the whole story, which is one not likely to convince many of the wisdom of the US government's take-over of much of the American auto industry.

www.forbes.com/2010/04/23/general-motors-economy-bailout-opinions-columnists-shikha-dalmia.html?boxes=opinionschannellatest

Many would say that the whole deal has been a scam. Yeah, you're right . . . I am one of the many.

AzWm

[aztecwin]

Not much in the way of response to this. I just have a hard time getting over how we fall for a "rescue" that robs shareholders, bondholders, and funds the "payback" with the sale of shares to the government to provide the funds. If you do't see this as a big problem, you will have very little chance of understanding much about the current "pickle" we are in as a country.