Latest Government Bailout: Delphi

It's all in the timing, baby. Delphi has been in bankruptcy for three years now, fortunately for them, the government is riding to the rescue (through $30 billion they gave to GM)—to the tune of a paltry $2.5 billion—once again allowing billionaire's to allow great possible profits while sticking taxpayers with losses.

GM's Wide-Ranging Influence

The Detroit News has put together a fascinating interactive chart of the influence that GM has extending throughout the nation (but mainly in the midwest as one might imagine). The next couple of years should be interesting.

31 Billion?!?

Hard to say whether or not GM was piling losses into 2008 to make their situation look desperate so the government will hand them more money.  We can conclude however, that their financial situation is not too good.  31 billion loss for the year.  Ouch!

Opening Pandora's Box

What happens when you start handing out money, willy-nilly, to anyone who you think needs it?  Everyone starts coming to you hat in hand, holding out their tin cup.  Today GM/Chrysler, tomorrow...who knows.  Thanks so much Hank and Ben. 

Oh, and did I mention that GMChrys wants to hand off some toxic pension obligations onto the government at the same time?   Ha, ha, ha, hey, it all make sense.  If the government is buying mortgage crapola, they may as well take on pension crapola as well.