General Motors continues to be one of President Obama’s key talking points with the now famous line, “Bin Laden is dead and GM is alive!”
And while it’s true that after receiving billions of dollars in bailout money from both President Bush & President Obama, the question must be asked: at what cost? Cost aside from the billions of dollars we’ll never recover that is.
It will never truly be known what innovations by competitors could have sprung up in the wake of a GM failure or how the managed bankruptcy which both Governor Romney and President Obama supported could have produced new partnerships between private sector companies.
It will never be known because as cliche as it sounds, government stepped in and decided for the market what would happen. The result is an American icon being reduced to a government subsidiary, and sitting president offering warranty guarantees.
GM may be alive, but the free market died a little bit to make it happen.
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