Forum Post: GM Thanks the tax payer for thte bail out by off-shoring jobs
Posted 13 years ago on Oct. 9, 2011, 10:15 a.m. EST by kmur1170
(0)
This content is user submitted and not an official statement
Why was GM (General Motors) allowed to except bailout money from the American taxpayer then thank us for keeping them in business by building their electric car plant in China? This was on CNBC, the channel that watches the stocks on Wall Street all day.
I am the 99%
And you expected something different? GM is obligated to it's shareholders, not the taxpayers. Obama had no business bailing them out, he just screwed the creditors for the sake of the UAW. If the UAW really cares about workers it should organize off shore workers.
Um, so the Volt cost only $38,000 instead of $52,000 maybe?
This is why bailouts don't work. However - where did that money come from?
a) our government (Congress holds the purse) b) the Federal Reserve (which is neither Federal, nor does it have any reserves)