GM Takes a Dive!

Despite the governments best efforts to bail out one of the big 3 automobile companies GM still dropped $3.4 billion dollars in the fourth quarter of 2009.  The problem with the government “bailing out” GM is that the tax payers are now on the line for a business that they did not choose to invest in.  I’m a pretty big support of President Bush but this was a huge mistake on his part to get involved in the ownership of a business.  While I perfectly understand that he didn’t want the failure of Chrysler and GM to be part of his Presidential legacy and he didn’t want the banks to fail he has allowed for the largest federal power grab in US history.  President Bush’s choice to “abandon the free-market in order to save it” has given cover for all the actions taken by the Obama Administration.  Our federal government had no business getting involved in “saving” GM.  Instead of having people choose to make an investment with the full knowledge that the investment could fail, every tax payer in this country is now on the hook for GM.  I hope to God that GM can turn things around and I hope even more that the US government will get out of the car owning business but as of right now I can only sit back and wait to see what happens. 

 Source:

http://money.cnn.com/2010/04/07/news/companies/gm_results/index.htm

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