Now that the government has entered the car business *COUGH* Epic Fail *COUGH*, I have a few questions for Obama and Congress.
- In light of Republican car dealer's complaint that they were politically targeted, what safeguards are going to be put in place to prevent using GM for political payback?
- What safeguard will be put in place to prevent government run GM from unfairly competing against Ford and the transplants?
- At what point would the government cut its losses should the new GM continue to fail?
- Should GM become profitable, what guarantees are there that the tax payers would be repaid, rather than the government spend the money on something else?
- Should GM pay off all of its obligations to the tax payer, what is the plan to return it to the private sector?
I pretty much know that none of these questions were ever asked during this sham bankruptcy proceeding. It appears to me that the entire bankruptcy was designed to keep GM as a permanent government fixture from the get go. So now we are stuck with a new money pit. GM, meet Amtrack, Amtrak, GM.