We Told You So-the GM and Chrysler Black Hole

For all of you that resist the temptation to have government bail out companies (of any size) in favor of free market solutions.....rejoice!  After being called all kinds of names for not going along with His Majesty's decision to bail out banks and auto companies we hear today from the Congressional Oversight Panel that the taxpayers are likely never to see some of the bailout money come back from Chrysler or Government Motors.  According to a Washington Post Article and Fox News interview with Dr. Elizabeth Warren, the panel chairperson, the taxpayer money NOT invested in equities of the two companies will likely not be repaid.  Oh really.

This oversight committee is comprised of some pretty heavy hitters from Harvard and other Ivy League schools and the like (if you put a lot of credence in their smarts).  It is also non-partisan.  Based on my viewing of the interview with the panel's Dr. Warren it would seem that the efforts of the panel were well meaning and un-biased.  All the findings of the committee were wrapped up in oh.....200 pages or so.  At least the report is readable, unlike some health care legislation I know of.

What remains to be seen is if the current administration will apologize for leading us into another Republican "I told You So" moment.  How many more times are these Obamanation nit wits going to skewer the taxpayers and voters for their negligence and slavery to the unions.....and do you really believe the bailout has ended?  Will the government step in to save the unions again when the public refuses to buy Der Kommisar's autos?  That will be a cat fight.  Just remember, it is wrong to tamper with the free market, no matter how painful in the short run, and always will be.  Hey liberals.....we told you so.