I had to laugh at the typo “seized to exist” comment when I realized it really was seized by the government.
Didn't GM just file on Monday?
Why doesn't anybody bring up the fact that not ALL Detroit and not ALL the auto industry was “saved” by Obama.
Ford was not bailed out and is probably doing better financially than GM and Chrysler.
” In addition to the $50 billion in taxpayer cash gifted to GM, a second gift came from the Obama team in the form of tax credits. About $45 billion of tax loss carry-overs were given to GM by Treasury as tax laws were changed to allow GM to benefit from credits they would not have normally received. GM is not expected to pay taxes for years as a result of the Obama Administration wanting to ensure future profitability for a company that would become the centerpiece of the presidential election. “
There you are.
Obama “saved” GM with taxpayers money. Then GM comes up with the “CHEVY VOLT” (failure of an automobile) that has to be sold at half of what it costs to manufacture. Who do you think is picking up the tab for that loss?