Crony Capitalism at Work?
3:46 PM, Mar 12, 2014 • By GEOFFREY NORMAN
Two car companies – Toyota and GM – some of whose vehicles are having engineering problems serious enough to be a safety risk and require massive recalls. One is investigated by Congress and the National Highway Traffic Safety Administration while the other is not … until very recently, that is. Toyota, the company that did face government investigation and sanctions is, of course, not even an “American” corporation. GM is. And was, for a time, a ward of the state.
So, could one suspect that GM was given a pass? As Liz Peek of the Fiscal Times writes:
Self interest is a powerful motivator and the political stakes must certainly have seemed high to the administration. And, as Ms. Peek notes, the record is not encouraging.
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