Thursday, August 2, 2012

I don't think we can afford any more "success" like this

Pyrrhic doesn't even begin to describe this "victory."

Remember when the government bailed out GM? Remember how it was a temporary situation, and we -- the taxpayers -- would make money on this "investment"?

American taxpayers have 500 million shares of GM stock. We need to sell it at $53 per share just to break even. It's now trading at under $20. We stand to lose well over $40 billion, and GM looks like it's going down the toilet anyway.

So we could have saved $82 billion, avoided hundreds of politically motivated store closings, and been no worse off than we are now?

Dude, the GM bailout was totally worth it!

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