Sargeant Carter!! Sargeant Carter!! You'll never guess what just happened!!
GM will default, and finally do what should have been done long ago--head to bankruptcy court.
Now, how much money did the politicians hand these clowns in the effort to avoid the obvious?
Remember December, when Senator Corker tried to negotiate a deal that looked like bankruptcy, with the taxpayer playing a 'debtor-in-posession' role?
Remember how the head of the UAW, Gettlefinger, arrogantly rejected the deal, vilifying Corker in the process? Remember how he demanded to see the books of Toyota before he would consider a deal for GM?
When the press begins the crocodile tears, remember how GM got here. Remember the decades of shabby cars, rip-off financing, dealerships that made their fortunes with inflated prices on cars, parts, service, bogus fees, and general rank dishonesty.
They weren't too big to fail. They were too stupid and greedy to succeed.
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