When Failure Is Rewarded
Aug 15th, 2012 by The Outsider
An article from FOX news about Obama picking winners and losers! Rewarding losers and failure does not make one stronger, it only gives a false sense of hope that things might be better by throwing more money at the problem. In this case, it is General Motors. From the article:
“General Motors’ stock has been nose-diving. It has fallen 39 percent since its initial public offering in November 2010. And on Friday, the Treasury Department announced that expected losses to taxpayers from the bailout would increase more than $3.3 billion to $25.1 billion — up from $21.7 billion last quarter.”
More: “On Tuesday, GM’s stock closed down at 20.20 on the NYSE. With the government still owning 500 million shares of GM stock, it would have to sell at $53 a share to break even — more than double Tuesday’s price.”
Now for some facts about job losses due to the bailout:
“I think there’s some real fuzzy math going on there. At the same time, (Obama) put 100,000 jobs on the chopping block by closing more than 2,000 dealers in a matter of months.”
http://www.foxnews.com/politics/2012/08/14/taxpayer-losses-tied-to-auto-bailout-rise/?test=latestnews