Political joke of the day or is it?

Although the thought of a union built car spontaneously bursting into flames may seem to be a public relations nightmare for General Motors but in the realty of the Obama Administration group think it’s really just another in a series of American success stories.

GM shares currently sit at $25.40, far below the $51 per share price necessary for taxpayers to break even. Selling the shares would recoup about $12.7 billion, but leave taxpayers with only about half of the $25.5 billion they have yet to get back from the $49.5 billion bailout of GM in 2009.

Only in Obama Bizarro World could investing $49.5 billion in the failed General Motors Corporation — losing $12.8 so far in that transaction — and then watching that same corporation hand out “profit sharing”  to its management and union workers be called a “success”.


About FishyGov

Practicing Independent Conservative and recovering Liberal celebrating 20 years of political sobriety.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s