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Your post expresses valid frustrations about the way the bailouts were handled, but in this case I have to disagree with most of what you're saying. Think back
by lyudmil 16y ago
Your post expresses valid frustrations about the way the bailouts were handled, but in this case I have to disagree with most of what you're saying.
Think back to the way things were when GM was on the verge of declaring bankruptcy. The housing bubble had just burst, unemployment had shot up, etc. If you had allowed GM to go under in those conditions you would likely be facing a full-on depression in places like Michigan. So the reasons for this bailout weren't all political. At least in the case of the GM bailout the taxpayers got something in return for their money - they got control of the companies, which wasn't even an option politicians were willing to discuss during the bank bailouts.
Yes, GM's arrogance is frustrating, but in this case the people are in a position to do something about it if they felt strongly enough. You are the majority stock owners at GM - write your senator and make sure GM's behavior is aligned with your interests. One thing I would suggest is pushing for GM to be heavily involved in the expansion of the US railroad system - something that will happen, but is currently a job that's mostly going to be shipped out to companies in Spain. That's probably more important than the ad.
- stretchwithme 16y agocontrol of this company is worthless. anybody could have picked it up in bankruptcy court. Its not worth 1 billion let alone 50