Government Motors

After billions of dollars in taxpayers’ money to prevent GM filing for
bankruptcy, GM has spent the last month in bankruptcy court. After
taking two huge handouts from the taxpayers to avoid filing for
bankruptcy, GM immediately hides in the court
restructuring program, which it could have done 8 months ago
without defrauding taxpayers of their money. The government
now owns 80% of GM, hence the appropriate name – Government
Motors.

Why should consumers be expected to pay for a new GM truck,
as we already paid for one and didn’t get it. For the CEO and
board of directors incompetence, consumers have to pay twice
to buy a GM vehicle. Rick Wagoner, the former CEO, should be
in a cell next to Bernie Madof, since he was planning to keep
taking handout money without making the needed changes –
downsizing the company. Now billions of dollars have been
poured into GM that could have been used to help small businesses
that really need help and are worth saving, but thanks to
GM and AIG the USA is now in a budget deficit of 1 trillion dollars,
and now unable to hand out any more corporate welfare money.

~ by judohobo on July 17, 2009.