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GM’s recent financial announcement caused readers and friends to try again to convince me that I was wrong in opposing the GM bailout. After all the reasoning goes, the bailout was a success, GM paid back the money (they did not pay all of it) and GM is now a success (questionable).
We the People are still missing the point about this terrible intervention by government into the private sector.
This was not about a good investment by the U.S. government. This was about taking money from We the People to bolster the fortunes of one company over its competitors. In fact, our government, on our behalf, taxed those that make their living in businesses competing with GM and used that money to support GM.
