Re: GM admits it flucked up big time

Dec 17, 2008 1 Replies
M

GM does not sell the "#1 selling vehicle" in the US, Ford does but GM does sell more cars and trucks than any other manufacturer in the US. What they 'want' are loans, not public tax money and GM is not a private company like Chrysler, it is a publicly owned stock company. You might want to do a bit more research befor you comment on a subject of which you obviously have little or no knowledge


As for "#1 selling vehicle" - If Chevy is so hot, why does GM want
> billions of public tax money to fund their private company?
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M

[top post corrected]

A loan from the government is made with public tax money or by increasing the public debt (The public debt is paid off with public tax money). Please advise me where your magic loan money will come from.

Why isn't GM simply going to the usual markets to sell bonds? The answer is that they are so risky that no one will lend them money. When a public loan doesn't get repaid, it becomes a grant of public money. GM hasn't shown that they will be anything more than a continuing failure (a grant).

Speaking of demonstrating no knowledge... there's no difference between the ownership of Chrysler and GM or any other non-publically owned business. They both benefit private investors. The only businesses that are different are those that are owned by state or federal taxpayers.

If we bail out either GM or Chrysler, we are spending public tax dollars to support private profit to private (non-taxpayer) investors.

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