Amos,

In case you did NOT pay attention while Obama slipped money to his supporters:

GM was in trouble- In the case of an ordinary comapany, that means the company would have been broken up, and the assets sold off to satisfy debt. Any remainder would have belonged to the stockholders.

Obama took over GM, and split it into TWO companies. The GM that the government owns, with a large amount of stock being given to the Unions, AND the one that the stockholders got. The problem was that the assets were ALL given to the one the Unions had the stock in: The DEBT was all thet the other company got- and THAT was what the stockholders of GM had stock in, after Obama screwed us over.

Go back and look at it- He took a situation where the stockholders ( and unions, who had pension plans invested) had some chance of recovery by reorganization or sale of assets) and made it one where the stockholders, including many insurance companies and mutual funds, were given ONLY THE DEBT.

But the Unions got their payoff, and screww the rest of us.