Wednesday, April 20, 2011

U.S. Hurries To Sell GM Stake, How Much Will Taxpayers Lose?

How much money will the government lose by putting itself into the middle of the American auto industry? No one knows but it will be a lot. It was not needed for the government to execute a hostile takeover since government interference has not changed a single thing in the auto industry except make Amercian car maker stock less valuable. Quite often Ford is mistakenly listed with GM and Chrysler as companies that took government money. Ford did not take any government money. Ford has been independent from the beginning and still is independent. Will GM and Chrysler ever pay back Uncle Sam? Time will tell, but don't hold your breath.



source: http://online.wsj.com/article/SB10001424052748703916004576271382418887092.html