So, it turns out that President Obama isn't happy with GM's restructuring plans and has told them to go back to the drawing board with it.
Remember the AIG bonuses issue and the principle that emerges there: The minute you employ taxpayer money to bail out a private company, you've got big trouble because now the citizenry feel entitled to, and understandably so, some oversight on what AIG does with the money they were given.
Well NOW look what's happening. GM's on-deck for a bailout and now they're at the mercy of the administration and ITS priorities. No longer is GM serving its market… now it will serve the government because it's gonna get taxpayer money and, after all, now politicians have a say in the matter and it's not the free market that these politicians are interested in serving.
It turns out that there are 20 automobiles currently manufactured by GM that are profitable. Eleven of these are trucks and SUVs. The administration wants GM to stop production of these vehicles. Nevermind what the market wants. The administration, you see, knows better than the market. And now it can make GM do its will because GM is getting taxpayer money and GM's prepared to take it. But since the market's no longer being served, GM will become EVEN LESS profitable. What a God-awful mess this is.
Our great nation is being destroyed by socialists.