After years of being labeled Government Motors, General Motors wants to take control of their company again. They believe that the government ownership is giving GM a bad image. Sounds nice, if I were them I would not want the government having the controlling stock of my company either. I also would not have sold it to the government in the first place, but I guess hindsight’s 20/20.
The Treasury Department responded by basically saying, to bad. Apparently, the Treasury Department is afraid that selling the shares back to GM would cost the government billions of dollars. Yes, losing Americans money is bad, however, let’s look at this in a different way. If the government loses billions of dollars in the failed experiment that was the auto bailout, then it will look very bad for Obama and his re-election. Let’s not forget that Obama and Biden have been talking up GM as a success.
This is exactly what EVERYONE has said from the beginning. If you give your company to the government, they won’t give it back. We are heading into some dark times and the more we give the government, either voluntarily or other wise, the more it will be used against us. Failing companies need to fail, the government needs to get out of everyone’s business, and we need to take back our freedom.