Archive for April, 2010

The Federal government thinks we’re idiots

April 24, 2010

The GM bailout hoopla is bogus.

http://www.forbes.com/2010/04/23/general-motors-economy-bailout-opinions-columnists-shikha-dalmia_print.html

The government bought the best parts of what was left of GM and Chrysler, loaned the companies money, and set aside money for them to use for other needs. To convince people it’s working, the government employees running GM took some of the money the government set aside for them and had the government consider it as repayment of the loan.

Now they’re running ads on television to boast about their success. But are they turning a profit on the car manufacturing business? It doesn’t appear so. So what are they bragging about? The main success of the car making company the government owns seems to be creating ads that generate controversy and draw attention to media companies. Naturally.

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