Dear Govt...

March 5th, 2009 | bailouts, gm

You cannot fix problems by throwing money at them. It's a little lesson the private sector learned years ago.

GM auditors raise doubts on automaker's viability

Of course their viability is awful. They're an awful company. They haven't learned how to effectively compete and control costs. Why would having Uncle Sam as a benefactor change that? Even if it could change it, they're bleeding so much they've already blown through the money that was 'given' to them.

All of this stuff, whether its mortgages or companies, seems far to aimed at supply side anyway. GM has a ton of inventory to clear out. No one is buying anything. So how would GM keeping operations going in order to save jobs building more cars make any sense? The end effect is that there are more cars sitting unused on a lot somewhere.

GM going under is a horrible thing. Our government throwing good money after bad is a worse one.
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