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Why does the US government think that it can take over GM?
AlfieAllen
Because of the credit crisis, among other reasons, lenders aren't as willing to continue letting GM operate on credit. Because of the lack of cash on hand at GM, they needed money to continue operating. The US Government in essence becomes the only source for money. The American people want an explanation of where their tax dollars are being spent. By acting as if the Chairman of GM, President Obama is showing the American people that their opinion does matter, by having an elected official have a say in day-to-day operations of General Motors. In any other case, the US Government simply shouldn't be so involved with the business. However, the loss of GM would be an economic catastrophe that simply hasn't been described on a large enough scale yet. Every single person that says "let GM do down" would be severely impacted by the loss of GM.
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∙ 14y ago
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