The apocalyptic scenario of GM and all its suppliers suddenly vanishing overnight upon which all this propaganda rests is a total FAIRY TALE.<quoted text>
WHAT? So, you think that it would've made more sense to stick the money in a bank than to save thousands of American jobs?
Hey, Einstein...how much money do think the government would have lost had those jobs not been saved? How many millions would have been paid out in unemployment benefits?
Four years after the auto bailout, there are 1.45 million people who are working as a direct result of the $80 billion bailout, according to the nonpartisan Center for Automotive Research, both at the carmakers and associated businesses downstream in the economy. How many tax dollars and purchases do you think that these people pump into the economy every year... I guarantee that its thousands of times what your sad little 7% investment would have been.
Teabaggers should have their own vision plan, since they're all shortsighted.
Under a structured bankruptcy, GM would have kept right on operating, as would all its suppliers, while the copany was re-organized, unproductive assets shed, and non-competitive & wholly unsustainable legacy UAW labor contracts cancelled and re-negotiated.
This is exactly what Ford did - with no taxpayer bailout money required.
This whole myth of massive job losses is a myth - a scary ghost story concocted to give political cover to Obama's Crony Democracy and rip-off of the American Taxpayer.