Now, I’m not an economist, but I do maintain my household budget. So, how is it that a plain old person like myself, and millions of other plain old citizens knew what the most brilliant economic minds in the world did not know? 

The answer is that they DID know, and the fact is that they probably are pretty smart people.  The problem is that they have been and continue to lie to us.

It’s never been about saving GM or AIG or CitiGroup.  It’s about the government taking unprecedented power and the people allowing their liberties to be taken from them without so much as a peep. 

It’s alway been about fanning the flames of crisis, make the public believe that if the government doesn’t do something drastic, that the consequences will be dire. 

So, they threw $20 billion at GM six months ago.  Now the government and unions own GM.  The government hires and fires GM executives, places key people on the board of directors and develops the overall plan for the company.  Meanwhile, thousands of jobs have been lost, about 6,000 dealerships, (owned by private citizens by the way).  Then there’s the zillions of suppliers to GM; the companies that make all the parts that make a car, all circling the drain.  Stockholders and bondholders kicked to the side. 

And the most infuriating move of all, the government hands over significant ownership of the company to the UAW – the auto workers union.  The union is one of the big reasons whay GM is in the mess they’re in! 

So, now the government will throw another $30 billion or so at the reorganized GM.  The unions have made a few concessions but the auto workers that are left are still making the same amount and still have basically the same benefits and the the government is still going to cover the pensions of the retired union members. 

If GM had been allowed to fail six months ago, they could have reorganized without government intervention.  American citizens could have saved $20 billion dollars and GM could have rebuilt with an opportunity to renegotiate their contracts with the unions – or not!  And government could keep their greedy noses out of private industry.