My Government Spent BILLIONS On GM. . .

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. . .and now it appears GM may go bankrupt anyway?

Billions and billions of my, of our taxpayer dollars. To General Motors. And also to the UAW — who, by the way, made nary a concession of note.

And wasn’t it me who wrote, some time ago: let these companies fail — ? Let the Big 3 fail? Because they’d have to go Chapter 11 and be forced to restructure?

GM on Monday said it will address “the tough issues to improve the long-term viability of the company,” including the restructuring of its financial obligations, as it responded to Washington’s calls for stronger plans to stay afloat.

The administration says a “surgical” structured bankruptcy may be the only way forward for GM and Chrysler, and President Obama held out that prospect Monday.

A ” ‘surgical’ structured bankruptcy.” Isn’t that what you read as well?

So what was the damned point? Where did that money go? Don’t we ALL deserve an EXPLANATION from GM and from the government?

Furthermore, has this been the object all along? That is to say, an “infusion” of cash into some industries, banks, investment firms — with the ultimate points being these:

1. To use these massive cash infusions as “cover” for social engineering programs by the Demorats;
2. In order to let these industries, firms and banks in fact go bankrupt, so that they may ultimately be controlled by the US government?

We should DEMAND an explanation for this! It is fiscal insanity.

BZ
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12 thoughts on “My Government Spent BILLIONS On GM. . .”

  1. The money went where most government spending always goes…around the bowl and down the hole.

    Don’t worry though, Barack Iacocca will have those UA guys whipped into shape in no time.

  2. Oh, well, Mr Durham, I feel such reassurance now, don’t you? Thank you, also, for visiting and thank you for taking the time to comment. Don’t you wonder: what new and egregiously offensive thing can the Obama Administration perpetrate on the American public TODAY? The landscape does, literally, change EVERY day.

    BZ

  6. what happened to the shareholders? board of directors? nobody in the company has the cahones to tell the govt to go away – mind their own business…….

    sheesh….this administration is scaring the pants off me….

  8. Welcome to the Obamanation and the socialization of America…

    I can’t wait for our pasty faced Obama loving outdoorsman to weigh in and tell us all what a marvelous thing this is…

  9. I have always been against any bailout, bank, auto or other. Always have been, always will be.

    With that said…….

    The bailouts happened anyway. Bush with the Wall Street, Obama with GM.

    GM has taken the taxpayers money and has not kept their end of the bargain, let them fail. Let them go through the process that any business has to go through in their position, restructure and start over.

  11. Do you remember in SEP 2008: its a disaster, sky falling, world coming to an end, etc?

    Remember pointing out that these companies should just go through bankruptcy court and re-organize?

    Guess what the super-duper, ultra superior, supremo Obama Auto Panel came up with?

    You guessed it!

    Just months and billions dollars late, of course… what a way to squander our money.

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