Category Archives: auto bailout
GM Pays You Back
GM paid off its TARP loan with money from its TARP escrow account, then used more of your money to buy ads to brag about it. Nick Gillespie explains on Reason TV.
Lamb Chop
Jennifer Granholm, the two term Canadian governor of Michigan, called former GM CEO Rick Wagoner a sacrificial lamb. The Wall Street Journal, which never agrees with Granholm, agreed. But on the op-ed page Paul Ingrassia, a former Detroit bureau chief for the paper said the sacrifice was long overdue since the stock price had dropped from $70 to under $3 on Wagoner’s watch. Actually it closed at $1.94 today, which is down from the $53.40 high of the Granholm reign. Perhaps more sacrifice is in order.
