Midya's Weblog

GM Using Taxpayer Money to Buy Private Assets

What is GM doing buying another company at the moment?  According to this article, they are still 61 percent owned by the taxpayer.  How is any of this constitutional.  It just goes to prove that things like government bailouts are indeed slippery sloaps.  This is not to be fatalistic.  They could be done as intended with the intended affects.  They won’t most often, however.

For a little bit of application, the political left used taxpayer money to pay off unions by subverting bankruptcy laws in handing GM over to the union pension funds.  Now, this company owned by friends of the left is using taxpayer money to buy other private interests. 

GM to buy AmeriCredit Corp. for $3.5B


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This entry was posted on July 22, 2010 by in Uncategorized.

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