Hey, it really is Government Motors — or it will be soon, Reuters reports. “General Motors Corp’s plan for a bankruptcy filing involves a quick sale of the company’s healthy assets to a new company initially owned by the U.S. government, a source familiar with the situation said on Tuesday.”
More on this story from Steve Green, who ponders, “The question nobody is asking: When it comes time for Obama to wave bye-bye to that car company he really, truly, 100% never wanted to run — what if there’s no one willing to buy?”
Update: Don’t miss American Thinker’s “Letter from a Dodge dealer”, who writes, “My business is being stolen from me through NO FAULT OF OUR OWN. We did NOTHING wrong.”
Read the whole thing.™
More: Meanwhile, back at GM, CEO Obama plans to convert a $15.4 billion government loan into a nifty taxpayer-funded “gift” to the company.