The Government Buy-up and Bail-out of General Motors saved union jobs while arbitrarily eliminating tens of thousands of non-union jobs at dealerships, put taxpayers on the hook, and at present will cost us at least 25 Billion in losses as the value of the automaker “we own” a part of continues to decline.
Had they been left to declare bankruptcy instead of getting a reported 85 Billion dollars in taxpayer “help,” the car maker would most likley have been reorganized in bankruptcy court, sold or parts of it purchased by other private interests, and retooled to become more efficient part of the world economy. But that would have resulted in a complete review of the sweet-heart union wage and benefits deals, and a potential loss of union jobs as opposed to the non union jobs that the Obama administration made disappear.
But that Obama, he’s not a radical partisan using your tax money to protect his political power. Not at all.
