But. To be honest, is anyone surprised? As the CEO said, investing into stocks is a gamble. The American government loss and shouldn't get compensation for the $10 billion that they loss. However, it would make one wonder why a tax funded bailout was allowed.
How is it reasonable to let the GOVERNMENT get involved with American companies?
Think of it like this.. You own a battery company and drive your competition to the ground, should the government be able to verse you? But to make matters worst, what if your competitors don't need to pay taxes for years to come? (http://online.wsj.com/news/articles/SB10001424052748704462704575590642149103202)
It's absurd! You would in a way be versing yourself! As you pay taxes to the government, they'll give your taxes to a failing company(companies fail for a reason). But then that company doesn't need to pay taxes like you needed to? Absurd!
The government has no business promoting companies or supporting a failing industry. You say that people will lose jobs if the company fails? Boo hoo. A well ran company will sweep in and take control of the failing company and bring it to success! The government, people you employ, should never have vested interest in keeping certain companies afloat.
When something fails, it's meant to. By failing to accept this, you're accepting that the government should be able to buy companies and verse other companies. If a company can't stay afloat, it's their own fault. Only with failure will success come. Maybe, if GM wanted to survive, maybe they should have made products that people wanted or not of payed union members so damn much with extraordinary retirement benefits!
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