Sunday, May 31, 2009

GM To File For Bankruptcy Protection On Monday.

Raise your hand if you didn't see this coming thirty billion dollars ago. (looks around) Well, it looks like the only hands up are the people with American Idle t-shirts on so let's continue.

The US Government is purchasing a controlling majority share of a publicly-traded company (73-ish percent) and intends to get rid of it "as soon as practicable" which means anything from "never" to "when we can find a way to foist off the rest of the bad debts on the taxpayers." We are going to tell them what kinds of cars to make, where, and who can make how much money within the company. Also we are giving them another $22.1B for a grand total of $52.1 BILLION FRIKKEN DOLLARS TO A COMPANY IN THE TOILET. Great.

Frikken fascism.

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