Tuesday, December 10, 2013

Since We're Speaking About Cars...

Here's another car-related tidbit also off the BLNN:

U.S. Sells Last of GM Shares
The Treasury Department on Monday announced that the government has sold its remaining shares of General Motors and that losses from the 2009 auto industry bailout total about $15 billion.

In a conference call, Treasury officials said the government has recovered about $39.9 billion of the $49.5 billion earmarked for GM under the Troubled Asset Relief Program (TARP) approved by Congress as the company teetered on the brink of bankruptcy nearly five years ago.
Yeah, that was $15 billion well-spent, wasn't it? Remind me, again, what we got for our money? I mean, other than a bailout of the UAW and other various unions and Democrat-donors (but I repeat myself). I like how it's being touted as some sort of accomplishment that the shares have been sold - as though losing $10 billion over 5 years is something to be proud of...

And I love how the story segues into the tidbit about GM's stock prices rising. No one seems to be pointing out the bloody obvious - once General Motors divested itself of the FedGov influence, people started buying stock in them again. Why, it's almost like people don't trust the government to run a business! Which, naturally, begs the question why they then feel the government is qualified to run our lives...

Never ask questions you don't want the answer to, that's a general rule of thumb...

That is all.

1 comment:

Old NFO said...

Ya think... If the gov can run a whorehouse in the ground... Just sayin...