SEE HERE Here we go! We paid $50 billion to bail out GM and we end up losing $11 billion in the process. It's good that we don't lose the whole $50 billion. GM will just tank again. When you bail out a business you immunize it from the market and make it more non-competitive and then it gets more dependent. GM, if they can't make it as a car company, should die in peace and the healthy parts, if any, would rise from the ashes. I'm not going to buy a GM car so except that the government is giving away my tax dollars, I'm not involved.
BTW for all the electric car lovers ... a bit of news: They require electricity and by the time you've generated that, transmitted it to the charging location via transmission lines, and charged your electric car the idea that you've accomplished anything for the environment is a complete delusion. Get over it. But you can get a Volt for $32K and some change. Oh boy! I'll bet the lines are out the door ....
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