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

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Information

This entry was posted on July 22, 2010 by in Uncategorized.
%d bloggers like this: