GM: Bankrupt

Nearly twenty billion dollars, your dollars, printed dollars is down the drain this morning. GM will file bankruptcy. The government and the UAW will own large percentages of the once proud company.

You'll never be paid back for the money they were loaned, it was forgiven two weeks ago by the Obama administration. At least the Bush administration consulted congress on all of this before acting. Obama is unilaterally doing this himself along with his tax cheat puppet Tim Geithner.

I do blame the Bush administration for starting the bailout madness, it just put off what is going to happen this morning. It would have been over with by now and GM would have been coming out of bankruptcy a better and stronger company and not the government owned mess it will become in a few weeks. TARP was never used as it was intended, we believe since no one will tell the taxpaying public how it was used. That is about as closely held a secret as who shot JFK.

The government should NOT own a private industry and dictate standards as it will be doing. I don't believe it says anywhere in the Constitution that a government can take over a private industry and yet Government Motors is a reality.

As we are driven headlong into Marxism at breakneck speed even Pravda is wondering what in the world we are doing and when the Russians are impressed with our descent into Marxism maybe we should take notice.