Politicizing the process to favor the labor unions and government control oriented interests

Bailouts + bankruptcy = ?

Intellectual Conservative
by Steven D. Laib

06/01/09

Interestingly, according to Barack Obama the government does not want to take a 60% stake in GM, but at the same time he says it had to, to save the company. These contentions are patently false. What is going on with the government sponsored bankruptcy is simply politicizing the process to favor the labor unions and government control oriented interests so that they can push their own political agendas. There really is no reason for the government to hold on to an ownership stake, and if it truly didn’t want to, it would be a simple matter to sell the stock off to the public at market prices as soon as the bankruptcy proceedings are completed. Or, as Mitt Romney proposed, it could be simply distributed to the public. This will not happen and the fact that it will not puts the lie to the stated position...

//tinyurl.com/lzg3zw


Informant: Thomas L. Knapp



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