In a desperate move that is well ... almost communist in a way ... US government now has the majority stake in GM.
Which means that I (and all of you tax payers) paid for GM stock!
To be honest I think we overpaid ... and where will the profits go from this company? (if there are any!)
It all just seems and feels wrong. Government has been handing out loads of money (that it doesn't have) to all sorts of big oversized lagging businesses (that must be bailed out or they will completely drag down the economy). And then we keep hearing stories of that money being misappropriated. Now government has shelled out oh round and abouts $150 BILLION to keep the car industry running. A car industry that loves to be slow in adapting. Doesn't bother to come out with more efficient or economical engines and vehicles that continues to ask the government for relief from tighter emission controls ... and pretty much kept pushing big fat inefficient oversized cars till it was too late. Perhaps ... just perhaps all these moves that throw money everywhere will keep things afloat for a bit, but with the current track record, isn't anyone afraid that the US will actually go bankrupt or ends up being owned by China/Middle East/Russia??? (Since that money the US throws out has to come from somewhere)
Which means that I (and all of you tax payers) paid for GM stock!
To be honest I think we overpaid ... and where will the profits go from this company? (if there are any!)
It all just seems and feels wrong. Government has been handing out loads of money (that it doesn't have) to all sorts of big oversized lagging businesses (that must be bailed out or they will completely drag down the economy). And then we keep hearing stories of that money being misappropriated. Now government has shelled out oh round and abouts $150 BILLION to keep the car industry running. A car industry that loves to be slow in adapting. Doesn't bother to come out with more efficient or economical engines and vehicles that continues to ask the government for relief from tighter emission controls ... and pretty much kept pushing big fat inefficient oversized cars till it was too late. Perhaps ... just perhaps all these moves that throw money everywhere will keep things afloat for a bit, but with the current track record, isn't anyone afraid that the US will actually go bankrupt or ends up being owned by China/Middle East/Russia??? (Since that money the US throws out has to come from somewhere)
