GM HEARINGS
A good place not to be, if you're government
Star Tribune reporting on the congressional hearings regarding the GM debacle included the following:
• During the hearings, questions were asked about whether the company disclosed the ignition switch defect to the Obama administration before the 2009 bankruptcy bailout that left U.S. taxpayers owning 60 percent of GM's stock.
• The government sold off the last of its GM stock in 2013, before the various recalls were announced.
The U.S. taxpayers' bailout of General Motors was primarily designed to underwrite UAW union jobs and pension benefits. "Captain Obvious" has a couple of questions:
• Before paying for 60 percent of GM's stock on behalf of U.S. taxpayers, did the Obama administration conduct a proper due diligence?
• Is there any curiosity about the Obama administration's clairvoyant 2013 selloff of GM stock?
• Might all of this represent the potential consequences of government and business as "bedmates"?
Pardon my cynicism, but …