Comment

A Bill to Let Big Government Set Your Salary

230
Kosh's Shadow3/31/2009 10:10:40 am PDT

re: #109 LGoPs

I heard a clip this morning where Obama said that car manufacturer warranties would be backed up by the Federal Government. Wasn’t this one of the reasons the mortgage crisis happened, because the Federal Government backed up Fannie and Freddie, thus giving carte blanche to unsound mortgage schemes? I need to dust off my copy of the Constitution. The Founders certainly were precient men, obviously foreseeing the need for the Government to enure that power trains were protected with the full faith and backing of the US Government.
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That’s actually one kind of help that is a good idea, as if GM is near bankruptcy, no one with sense would buy cars where the warranty could be removed by the bankruptcy court, thus pushing GM out of business.
However, the help could simply be a way of assuring the public that their investments in cars would be protected by the same warranty they get now.

It is all the other stuff in running GM that is a bad idea.