BellaOnline Forums Home and Garden Cars Bankruptcy

Are you keeping up with GM? It appears they will file for bankruptcy on Monday.

Yes they have. Unfortunately for taxpayers, this should have happened a long time before the government poured $20 billion into their business.
Now they'll get another $30 billion and the government will "own" a significant portion of them.
One can only wish the best for GM's future. Take a look at Social Security, Medicare and other government run programs that are almost bankrupt.
Let's also not forget that the current economic crisis was in part started by government sponsored Fannie Mae and Freddie Mac handing out loans to those who could never pay them back.
Although it's doubtful that GM will ever detach itself from the government, the better we'll all be if it can.

GM - Government Motors. It is indeed a sad day.

Someone was comparing the government involvement with the company like that of Amtrak. It was supposed to be a 'partnership' for three years and it has now been around 40 and no end in sight.

That's actually a great comparison Angie.
I sure hope it doesn't end that way, but I can't see how the government and now the unions with ownership will ever back away.
When free markets are allowed to work with less government involvement, you'll see normal swings in business with good times and bad times. If a business makes the mistakes that GM has made over the years, like other businesses that make multiple poor decisions, they should go bankrupt.
We know what happens to any program that government gets involved in. Nothing good ever comes from it.

Steve Moore, Arthur Laffer, Chris Tanous co-authored The End of Properity. You'll have to read it.