GM announced today that it is taking $3,100,000,000.00 of the taxpayer money it has lying around (and lied about repaying "in full") and using this taxpayer money for purchasing a sub-prime lending firm. Recall that GM jettisoned their own dying credit arm GMAC (now the ironically named "Ally" Bank) into the TARP bailout fund.
The Obama Administration has used your hard-earned tax dollars to enrich his union enablers the UAW as surely as if he personally put their hands in your wallet. While GM is still overbloated and losing money, they are spending your tax dollars to take a profitable business down with them.
In what world turned upside down does this make any economic, financial, business, or political sense?
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