When General Motors goes into bankruptcy, its healthy assets will be bought by a new entity owned by the federal government. See GM bankruptcy plan eyes quick sale to gov’t. This will give new meaning to the old tycoon (now spinning in his grave–hook him up to a generator for clean energy) who said, “What’s good for General Motors is good for the USA.” Now there will be no difference. Now that taxpayers own an auto company, do you think we will all line up to buy government-built cars?
(The plan is apparently for that governmental agency to sell the unit to private buyers eventually, but still. . . THIS IS SOCIALISM!)
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