We loaned GM $50 billion to avoid bankruptcy. For you politicos out there, just for clarification, what that sentence means is 1) GM is supposed to repay the money as it is a loan and 2) it was loaned to GM in order to avoid bankruptcy. As I, and probably a great number of us, predicted (except apparently the politicos), GM went bankrupt anyway and now it has been pretty much made clear that we are not going to be repayed:
How does it feel, my fellow American? Was it good for you? I bet not. The evidence just keeps piling up. How in the world so many of you condone this type of activity or turn a blind eye to it blows my mind.
September 9, 2009
