Obama now owns 60% of General Motors.

After a rough few months in financial distress Generam Motors finaly declares bankruptcy. This is bad news for many share holder and employees. But rest assured The President of The United States now owns 60% of Americas largest auto maker. Phew, Talking about power. Obama and several others who now own huge portions of GM have stated that they plan to return the shares once the company is back up and running.

I think this is the first time a president has owned majority share of a major corporation. It sort of baffles me but I put my hope into obamas skill as a leader.

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General Motors will file for bankruptcy on Monday !!

OK, Now after we have given General Motors billions of dollars to help them fix there structuring and ensure that americans keep their jobs, General Motors is filling for bankruptcy. After wasting billions of American tax payers money they will protect themselves from further damage. Now don’t think that the workers of the factories will see any of this, because they will still be laid off. Basically what will happen is that the CEO and executives of GM will still receive their high payouts and essentially the filling for bankruptcy will only protect them.

We are trying to fix the economy but all we are doing by allowing companys like GM to pay their CEO’s 150Million dollars a year is encouraging all corporations to continue the shady techniques they have been using for years. This has to come to an end,bankruptcy protection should protect the citizen and hard workers of the company not the select individuals who cant do without their caviar.