….[the] administration’s wanton disregard for both taxpayers and the company shows just how desperate it is getting to deliver some sliver of economic good news to angry voters ahead of the November elections. But its actions only bespeak of the dangers of government bailouts. GM has a long way to go before it is truly back on its feet.
It might make it–eventually–just as Iraq seems to have stabilized seven years after President Bush first declared victory. But as in Iraq, it will remain an open question as to whether the bailout was worth the risk and cost to taxpayers.