Aug 192011
Were you one of the suckers that bought into the notion that the government could remedy GM? Why would you believe they could run an automotive company operating in a competitive industry when they are unable to avoid bankruptcy for Amtrak and the Post Office. Both are protected monopolies and cannot be run properly. Only taxpayer funds has kept them from bankruptcy.
Here is the performance of GM’s stock. Anyone who purchased on the “new offering” got in at the bargain of $33.00 per share and has lost about 30% of their investment. Taxpayers with their forced bailout may not be so lucky.
