When GM produces quality cars that exceed fuel efficiency standards, then we can call it a success
While I agree with Treasury Secretary Jack Lew on his statement that without the money given to GM the U.S. would have lost over a million jobs and might have slipped further from a recession to a depression, I have to ask why the American people didn’t have a voice in this decision [“$10.5 billion price tag for federal GM bailout,” Business, Dec. 10].
Granted taxpayers cannot be informed on all the issues specific to the auto industry, but, in principle, bailouts should be the topic of a larger discussion and specific legislation regarding when such rescue maneuvers are appropriate.
Today, some say President Obama made good choices that led to a recovering auto industry, but the truth has yet to be revealed. How the money was truly used and how much of the $26.8 billion in cash that GM now has on hand will be “returned” to the tax payers is still an unknown.