General Motors. On September 24, Congress approved a $25 billion bailout for General Motors (GM), Ford (F), and Chrysler. In November, they were back.....asking Congress for more of our tax dollars.
Dallas Executive Mr. Jody Grant stated well in the Dallas Morning News stated "I think Washington is inclined to do a bailout. But if it's not done properly, we'll be back in the same old boat: GM's no more competitive than they were before, nor is Ford, nor is Chrysler." GM received $13.4 Billion in round one.
Most people in September and throughout the fall were saying that they should file Chapter 11 Bankruptcy, reorganize the business free from the immediate creditor pressure and, most importantly, renegotiate the union contracts they have. Most people being the American public, not the politicians in DC.
Just this morning (March 8th) Senator John McCain is saying just that - like it is his idea and he just came to this conclusion. How much in taxpayer dollars needs to be thrown down the hole before those in Washington listen to the things that the American people are saying?
