We were right. Government was wrong.

FAILOCALYPSE. I think that phrase perfectly describes what’s happening here.

GM’s new Obama-approved CEO is talking bankruptcy. This is AFTER they were bailed out to the sum of $14 billion. Lot of good that bailout did. Everyone I talked to before the bailout said GM should just enter bankruptcy. It’s just common sense. But no, government knew better. Common sense couldn’t solve the problem. They’re too big to fail. Well they did fail, and government forced us taxpayers to spend $14 billion to watch it happen.

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One Response to “We were right. Government was wrong.”

  1. Dave O Says:

    In school, I learned of the “invisible hand” of capitalism. The competitive nature of the free market works toward the good of the country, causing efficient, well-run enterprises to succeed and continue, while the inefficient fail. The “propping up” of failing companies helps no one, and, as you’ve pointed out here, just delays the inevitable. Though I am hoping that the UAW will make concessions so that GM can survive.

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