I’m sure you’ve seen those Government Motors TV ads where GM Chairman Ed Whitacre manfully tells us he doesn’t blame us for distrusting his crummy, socialist company (thanks, Ed) for letting unions run it into the ground and then having union crony Barack Obama bail those unions out with our money. But now, he says, GM has earned our trust again by paying back that government loan with interest. If you’re like me (a credulous buffoon), you thought, “Wow, Ed, good for you, now I’ll stop boycotting your company (which I am) and buy your crummy socialist cars again.”
Well, guess what? It’s all baloney. GM is still a crummy socialist company and all they’ve done is perform some accounting magic by paying off one lot of bailout money with another. This is a culture blog so I won’t go into the financial details, but even the New York Times couldn’t swallow this one and you can read all about it at the link.