By Eric Peters
Eric Peters Autos
December 13, 2013
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In Washington, they always try to announce unpleasantness during the off-hours (weekends, holidays and such) so that – hopefully – the stink will be less noticed.
In Detroit, too.
The recent announcement of the accession of Mary Barra as the new CEO of General Motors just happened to be exactly coincident with the announcement that the federal government has divested itself of its remaining partial ownership of GM.
This is good news.
The bad news – according to the Center for Automotive Research – is that $14 billion in taxpayer dollars went up in smoke as a result of the government’s “investment” in GM.
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Sorry, but that is just the bailout cost.
What about all the lawyers, productivity, and personal losses?
Frau Reinke lost 5k$+. Where does that get tallied?
And, the loss of market discipline.
Bailouts are addictive. And, immoral, ineffective, and inefficient!
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