Quote:
Originally Posted by DieselAddict
I don't think anyone really wanted to see GM or any other car maker nationalized, including Obama who's stated clearly he will NOT run GM,
but obviously (maybe not obvious to some) this is being done for the greater economic good and most likely it will be temporary. Personally I don't care for GM and their products, and I don't like to see the govt spending even more money, but I can certainly see the economic benefits of this move vs. GM's total collapse and liquidation which would have far-reaching consequences well beyond GM's immediate business.
Hopefully the govt will eventually make some money out of this too.
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Didn't he fire the last head of GM? Can we assume the new boss is there irrespective of whether he has govt blessing or not?
No, you can see the economic POTENTIAL benefits. If it screws up, well......
IF they can even break even, I think it will be a miracle. BTW, wasn't part of the money advanced to them so far already written off?