So...50% of Chrysler is being given to its employees and their pension fund, and the government is taking a 50% stake in General Motors.
Keep in mind these companies are basically worthless, that is without value.
But they're being kept afloat with dollars that Americans weren't spending at these companies to begin with.
Make sense so far?
Of course it doesn't.
But, hey, that's just socialism.
And socialism, in addition to being stupid, is very costly.
It's a wealth destroyer.
And that is exactly what is happening. Wealth is being destroyed.
We are more poor when the government attempts to run private businesses.
It's that simple.
Both of these companies should be in bankruptcy right now; and they should be there without the taxpayer dollars the government confiscated from American taxpayers and wasted on these lost causes.
I won't shed a tear for any overpaid UAW member when he loses his job.
Nor will I be fooled into believing that these companies have been "saved."
It's all hooey.
Separate But Equal Is Best Scenario
4 years ago