[brownsfan]

No, Russia has learned and backed away from Socialism.

[epluribus_2]

Read the fine article. It talks of creating a new company, and the gov taking over GM then selling to this “new” company any “healthy” assets. Guess this means the “unhealthy” assets would twist in the wind or be transferred to the same imaginary hole where the gov is storing the “toxic” assets it bought.

[jpl]

Best of luck to Government Motors. I’ll move to Russia before I buy a car from Hussein Obama.

[Pete]

First paragraph: NEW YORK (Reuters) - If General Motors Corp files for bankruptcy, as widely expected, plans include a quick sale of the automaker's healthy assets to a new company owned by the U.S. government, a source familiar with the situation said on Tuesday.

If someone told me that Obama would nationalize the banks and the auto industry in his first 150 days, I would have thought them crazy. This is truly astonishing.

[jongaltsr]

Thanks to our great leader.

[autumnraine]

Link to article now up:

http://www.reuters.com/article/mergersNews/idUSN1943363120090519

[Sleeping Freeper]

Just wait until the end of Obama’s second term.... we’ll be worse off than Venezuela...

[The Great RJ]

Just like in Britain after WW-II, major industries were forced to sell themselves to the government. These government run British industries, like coal mining, were run with enormous deficits solely to benefit the unions and crippled the British economy for decades. It took Margaret Thatcher to undo this mess and restore at least some sanity to the British economy. Let us hope we can have another Thatcher or Reagan to quickly lead us out of this mess.

[TornadoAlley3]

Calf-rope!

[gondramB]

>>I am speechless. Are we Russia yet?<<

No we’re aiming to be the people Russia makes fun of for not being capitalist enough.

[RexBeach]

“Well, Obami, here’s another fine mess you’ve gotten me into!”

[CatoRenasci]

This can’t be a surprise, it’s very similar in the idea to the sale to Fiat in the Chrysler bankruptcy. However, where that one may well fly, this one is probably a bridge to far in terms of being used to get around the requirements of a reorganization plan.

[Nachum]

The list, ping

[Voter62vb]

What happens to GM’s retired workers and their retirement benefits?

Does that become part of the national debt?

How will this relate to national healthcare?

Will there be any money left for new gps satellites, because the roads here in the Tidewater area aren't making sense to me yet...

[Jacquerie]

The soft tyranny we are all familiar with is rapidly becoming a true hard tyranny where more and more citizens have reason to fear their government.

[Bon mots]

The Peoples Car Factory!

[hometoroost]

A little more like Germany or Italy from the 1930’s I think. This is a new form of ism Obamunism - Il Duce meets Marx. State ownership without the on-time trains.

[evets]

[ElkGroveDan]

...also GM announced a Glorious Five Year Plan for a newly designed economic vehicle for every American:

[Reagan69]

Aren’t there ANY laws being broken by this dictator?

If so, these companies should be fighting these dictates right up to the supreme court.

What is going on?