QotD: The GM bailout again

We know what Obama is getting with this money — an empowered union that will back him when he runs in 2012 — but what are we getting? The Globe and Mail in Canada estimates that it will cost taxpayers $1.4 million per job saved. Had the free-market been left to be free, it would have cost us nothing to "save" these jobs. In fact one of the most compelling things for tax payers about a "free-market" is that it is free.

In absence of government intervention, GM would have gone into bankruptcy, like Delta Airlines and others did when they filed, keeping employees and operating. The reason Obama did not want this to happen is that in bankruptcy, the company can reject contracts and leases. The sweet UAW contract, which is the main cause of GM's demise, would be adjusted to fair market value. And "fair market" is nothing the liberals want any part of anymore. If only we had had a wise Latina woman on the board who could have used the richness of her experiences to make better decisions than the white males.

With the Democrats now running the car companies, look for quite a fall lineup of cars. My guess is that you will like the GM two-cylinder Geithner Midget. It veers hard to the left for no good reason, pays no taxes, blocks Rush Limbaugh on the radio and shows no remorse for past bad driving.

Ron Hart, "Government motors", The Destinlog.com, 2009-06-10