GM, the auto giant returned to the big board with an initial public offering topping 20 million dollars, making it the biggest IPO in American history. The biggest, bigger than UPS, Kraft Foods, AT&T Wireless, even bigger than Visa.
“does anyone really believe that politicians and bureaucrats in Washington can successfully steer a multinational corporation to economic viability? It‘s time for the administration to fully explain what the exit strategy is to get the U.S. government out of the board room once and for all.” - Rep. John Boehner, summer of 2009
“Billions have been wasted and tens of thousands of jobs have been lost. Now the government has forced taxpayers to buy these failing companies without any plausible plan for profitability. Does anyone think the same government that plans to double the national debt in five years will turn GM around in the same time?” - Senator Jim DeMint, June 1st.
“no matter how much the president spins GM‘s bankruptcy as good for the economy, it is nothing more than another government grab of a private company and another handout to the union cronies who helped bankroll his presidential campaign. This is the real change President Obama has in mind for America, government ownership of our economy, financed with irresponsible and reckless government spending and debt, and no jobs to show for it.” - RNC Chairman Michael Steele, June 1st.
