Categories
economics

AIG and GM

GM was already a disaster, now we have the government coming in to prop it up. Great… Here’s what’s going to happen, and you won’t hear it in the news. Most of the board will be let go, with millions and millions of dollars as severance. Millions, approaching billions will be paid to GM dealerships, and you know who will get that money; it won’t be the salesmen or mechanics, I can tell you that!

Why is there no outrage over this? GM has been responsible for trillions worth of waste and lost shareholder equity. Why were people willing to string up people over at AIG but are willing to give these people a pass? At least AIG could have possibly made money on their business model, GM was well on its way to collapse before the economy went into the tank. The hypocrisy here is sickening to me. Why are my tax dollars going towards paying off GM’s overextended dealer network? Why are we paying for their incompetence? Where is the outrage?

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