Government Motors

When I was a kid, I loved seeing “MARK OF EXCELLENCE” near the GM logo, because those are my initials, too.

Unfortunately, the corporate logo now represents failure and political manipulation.

Most Americans were opposed to the bailout of General Motors because they thought, correctly, that it was a very bad idea for the government to get so deeply involved with running a particular company. So, the recent GM statements and commercial proclaiming that the bailout loans have now been paid in full, with interest, five years ahead of schedule, seemed to be a pleasant surprise.

Apparently not.

Shikha Dalmia wrote an op-ed in Forbes explaining that what has happened is not a sign of success, but rather a prelude to another loan with worse terms for taxpayers (and only a small part of the bailout is being repaid, with
another part).

Appropriately, it seems like there are already Truth-In-Advertising concerns being raised.

I hope this bailout does end in success for the company and taxpayers, but that doesn’t seem to be the way to bet. And, if it does happen, we’ll have to find out about it from a more reliable source.

UPDATE: Here’s Nick Gillespie of Reason.TV explaining this in a short video.

Comments:

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s