GM was nothing but a smart ploy by the Democrats to ensure UAW votes. Simple as that. It was a I scratch your back I lick your balls deal. Nothing less, nothing more.
I've read the argument that it was worth the loss since it saved so many jobs it's incalculable.
Horsespit.
Ends justifying the means garbage that gets us into these sorts of messes in the first place.
Stop bailing out companies that can't evolve and build products the market wants. It's the government's hobby - a macabre one - giving money to losers.
They could have done this without the politics - it's called restructuring under bankruptcy.
This was a classic case of government of cherry picking who they were going to help.
Some may call this cynical.
Anyway. Never invest in companies that rely on subsidies or the government to help them. Ever.
And looking at the chart above who in their right mind would invest in a company whose three largest shareholders was the government and a union?
That's the perfect recipe for non-performance.
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