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GM should never have been rescued. Same with Chrysler - both times. The US told the auto industry: "It is ok to suck and make poor quality vehicles for decades. No need to worry about over spending on labor and employing bad management. We'll save you if you need it."
The companies weren't rescued, the union jobs were. GM is a company who makes cars to keep promises to pay healthcare and retirees. The biggest car company to me is the one with the largest profit, being big for big's sake is not a good thing but being successful as measured by profitable sales is how to measure it.
When the Bush administration pushed for the TARP bailouts back in 08 a lot of people thought it was wrong. Okay, so our politicians did it, but what's worse is the stock sale that just occurred at a huge loss to the taxpayer of billions. GM executives pushed for it, because they were limited in how much they suck out of the company under TARP guidelines. they've now taken taxpayers for billions and spent it on bonus's, corporate jets, and general mismanagement while Delpi White collar retirees lost their pensions. At least they're #1.
The companies wernt rescued, the union jobs were. GM is a company who makes cars to keep promises to pay healthcare and retirees. The biggest car company to me is the one with the largest profit, being big for big's sake is not a good thing but being successful as measured by profitable sales is how to measure it.
Oh please, expound on how Bush bailed out unions?
The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase assets and equity from financial institutions to strengthen its financial sector that was signed into law by U.S. President George W. Bush on October 3, 2008.
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