Wednesday, February 29, 2012

The Other GM Bailout

Review & Outlook: The Other GM Bailout - WSJ.com
by manipulating corporate tax rules by fiat, "Treasury gave the firm (and its owners, including the UAW) $18 billion more in assets."
Thus a Democratic Administration gave "a massive tax benefit to one of the party's biggest supporters."
The other problem is that the move put Ford and GM's other competitors at a disadvantage, as bailouts always do.

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