Results of the bailouts

Just four days after GM received a $5 billion dollar loan as a bailout from the federal government, the company announced today it would lay off 2,000 workers and slow production across nine plants.

I hate to say that it seems as always that the rich get richer while the poor get laid off, because that’s way more cynical than I generally tend toward, but, well, it really does seem that way, lately.

But I don’t know; you’d think maybe GM would use some of those workers it’s laying off to work on fuel/energy efficiency standards Obama is targeting.

It’s kind of a shame Obama can’t just step in and say, “Guys, we just gave you $5 billion. You’re not slowing production or laying anyone off. What you’re going to do is give free cars to all the customers your banks/dealerships are denying new car loans to.”

Tagged on: , , ,

%d bloggers like this: