UPDATED: GM about to smash another record!
Great news- they're within spittin' distance of surpassing the 2004 record set for most GM recalls ever! :) News report wrote: General Motors recalls another 2.7 million vehicles The latest ...
Forum Discussion
spoon059 wrote:BillyW wrote:
Your version of capitalism could easily be the downfall of the USA. Your government knows that and stepped in to prevent a major portion of US controlled manufacturing to go under. I seem to remember reading about the competition (Toyota, etc.) being propped up by their governments too.
Sociaism WILL be the downfall of my government. You can believe what you want, I can believe what I want. I don't think for a second that GM going through bankruptcy would result in the loss of millions of jobs. That is a lie perpetuated by the administrations trying to justify themselves.
Second of all, I could really care less if Toyota received bailout money from another government. Toyota/Japan aren't forcing American taxpayers to support their company. I made a conscious decision to purchase 2 Toyotas (capitalism). I was FORCED to help pay for a bailout of GM (socialism).
You're a little behind the times. The US government sold all its remaining shares in GM last December. At the time GM AND Chrysler were bailed out, there was no private capital available for GM.
At that time, GM wasn't looking at a structured bankruptcy, they were looking at liquidation. Not only would have that cost 2 + million jobs, it would have sent a ripple through the entire economy.
But...just out of curiosity, what's the difference between bailing out GM and Chrysler and subsidizing (on an ongoing basis) the oil, pharmaceutical, or agriculture industries (to name a few)?
