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Jul 30, 2009 - Promises, Promises

"So we are acting as reluctant shareholders, because that is the only way to help GM succeed. What we are not doing, what I have no interest in doing, is running GM."  - President Obama

As I said a few days ago, those lips were moving when he said that.

Given a chance to give taxpayers stock certificates for their share of the government's ownership stake in General Motors Co. and Chrysler Group LLC, the Senate rejected a proposal  which also would have blocked the government from using any more money from last year's Wall Street bailout to help out the car companies.

Sen. Dick Durbin, D-Ill., said the amendment would dilute the power of the government to deal with the companies, especially GM.

Uh huh... not interested in running GM... not at all.

Read the entire Associated Press story

3:10 am | Categories: automotive news, legislation Permalink | Alert Administrator

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