Skip to comments.What's Good for GM Is Now Terrible for America
Posted on 11/18/2010 9:57:27 AM PST by Nachum
In his 1953 confirmation hearing for Secretary of Defense in the incoming Eisenhower administration, former General Motors CEO Charles "Engine Charlie" Wilson was asked how he would handle conflicts of interests in the Defense Department's dealings with his old firm. Wilson replied that "for years I thought that what was good for our country was good for General Motors, and vice versa."
For decades, Wilson's comment -- misquoted as "What's good for General Motors is good for the country" -- has been paraded by liberals as an example of conservatives putting the concerns of a giant corporation ahead of those of the rest of America.
But since GM's multi-billion dollar bailout and government takeover, the misquote from Wilson has become the philosophy of the Obama administration. They are treating the success of the initial public offering of the new GM, which will likely happen this Thursday, as proof positive that that the auto industry rescue and much of the rest of Obama's economic policies must be good for the country.
(Excerpt) Read more at spectator.org ...
Thanks to the GM bailout, if I ever do buy a Corvette it will be a used one.
China got 16% of the IPO.