Government at work, picking and choosing its favored constituencies. The left sees nothing wrong with this, the choosing of what they see as preferred parties to receive benefits. Such actions are evident in everything that government does, particularly at the federal level and inevitably leads to market failures.
You know, like what happened with Fannie Mae and the whole loaning-money-to-unworthy-borrowers-thereby-causing-the-near-total-collapse-of-the-world-economy thing.
One of two things has happened here; either this incentive came down to GM from their New Boss, pictured here in his customary looking-down-his-nose pose:
Or, GM took it upon themselves to attempt to curry favor with The One. Supplication to the gods, as it were. Either way, it is politics-driven, not market driven and that is a problem.
More such shenanigans reported here by NRO. Any chance that GM had to survive was doomed the minute it took government money. They were probably going to go bankrupt soon anyway, now they will die the death of a thousand cuts, inflicted by politicians as they slice it up for their own ends.
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