I was dismayed and appalled at learning it is unlikely that we taxpayers will ever recoup the $81 billion bailout we gave to GM and Chrysler.
A recent report issued by the Congressional Oversight Panel was exceedingly pessimistic as to the intent of the two auto manufacturers to repay their horrendous indebtedness. There are strong indications that our Congress' attitude is to chalk up the losses to an economic recovery bad investment and let everyone, including the exorbitantly high-paid executives, continue to enjoy their meritless bonuses coupled with enabling the enviable employee benefits packages to remain unaltered as a slap in the face to taxpayers. Have the inmates taken over the institution?
We are a country that has demonstrated the economic benefits of being engaged in a free enterprise form of capitalism. One successful example of this is the Ford Motor Co. With first-rate leadership and no government intervention, it is manifesting the essence of how to contribute positively to society on the strength of its own initiatives.
What we are allowing to prevail is a travesty. We need to get our government representatives to employ the clout of their respective offices to intervene and ensure that the taxpayers are not endlessly ripped off.