Government Motors Keeps On Truckin'

The Treasury Department along with the auto task force is calling the shots at GM so that we the tax payer now own about seventy percent of “Government Motors“.

The leader of this auto task force Steve Rattner is a hedge fund operator whose firm, according to an article in the Nation magazine is “deep in a pension-fund bribery scandal“. Isn’t that nice, some of the larger bond holders in GM are pension-funds.

We’re giving GM billions, up to fifty billion by some estimates and how do they thank us? By shipping jobs to China and Mexico.

GM was going manufacture a small compact car in China and then ship them back to the US for sale. The UAW kept up the pressure to keep this from happening and now part of the bail out plan includes GM manufacturing a compact car here in America.

Interviewed on the Newshour Treasury Secretary Timothy Geithner was asked if he was going to pressure GM not to ship jobs to Mexico, which the Secretary refused to answer, stating it is important to remember that they’re restructuring GM to come out as a viable company in the future without government control. This is their story; government take over to restructure, creating a more viable company providing American jobs in the future, even the president’s press secretary recites this same line.

Why are these people calling the shots at GM? Why isn’t our government demanding GM keep jobs in this country? Why doesn’t the tax payer deserve a vote on how this bail out is handled or even allowed to occur for that matter.

It was Steve Rattner who fired Rick Wagoner the CEO of GM. If that doesn’t’ beat all, a corporate crook firing a corporate crook. As seventy percent owners in this new and improved GM corporation we should do some firing of our own. First lets fire whoever is responsible for the restructuring plan which included shipping jobs to China, South Korea, Japan and Mexico.