Make no mistake, these companies are still on life support. The CBO expects that the lion's share of the government's losses on TARP will come, not from anything the Bush administration did, but from the Obama administration's decision to bail out the automakers and to a lesser extent, its bailout of homeowners. It seems that a big chunk of our cost may come from picking up the gold plated pensions . . . "Cadillac Plans", if you will . . . of the automakers. And lest you think I'm picking on unions over management, it was management that used the UAW as a prop to extract these gargantuan sums from the pockets of innocent taxpayers.
I feel like we ought to get a little something back, here. At the very least, they could offer everyone in America that OnStar service that sounds so great in the commercials.
GM: More Troubles Coming Down the Road - Business - The Atlantic
We haven't finished bailing these companies yet apparently, and for that, we can thank the current administration.
