What’s Good For General Motors …
12:01 PM, Dec 17, 2013 • By GEOFFREY NORMAN
Is to stiff the taxpayers. Not to mention the bondholders. As Todd Spangler of the Detroit Free Press reports:
The way the CEO – who has his job, by the way, courtesy of taxpayers – sees it, "Treasury officials took the same risk assumed by anyone who purchases stock.”
Taxpayers would do well to remember that the next time (and there will be one) that some car company or other “vital” enterprise” comes around talking bailout. “Like to help you out, old stud, but you assumed a risk, just like anyone else in business. But good luck with next year’s model line. And especially that Volt."
That $10 billion, by the way, would cover – according to some estimates – the cost of the recent economic shutdown.
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