I really want to believe that GM will get back up on all four wheels. I think that the company has some very talented people… I also think that they have an amazing amount of baggage that should have been taken care of in bankruptcy court before pumping so many billions of taxpayer’s dollars.
Talking about the billions pumped, Sarah Palin will appear later today in an interview with Sean Hannity. Among other things, she says:
“America is digging a deeper hole and how are we paying for this government largesse. We’re borrowing. We’re borrowing from China and we consider that now we own sixty percent of GENERAL MOTORS – or the U.S. government does… But who is the U.S. government becoming more indebted to? It’s China. So that leads you to have to ask who is really going to own our car industry than in America.”
Its scary to think what government and regulations can do to the cars that we drive. Scarier still, is to think what other governments can do… I’m pretty positive that given the opportunity they will tilt at their favor (borrowing that expression from this great blog post by Alexander Muse).
We as Americans better start tilting to our favor, hard. While we still have leverage.