Back To the People?

[Vel]

" The best way to help the new GM succeed and recover the taxpayers’ $50 billion in loans may well be simply to give all the government’s stock to the taxpayers and get Washington out of the business of owning and running auto companies — the sooner the better,” Lamar said on the Senate floor late Monday.
In his remarks – which are available here – Tennessee’s senior senator pointed out that GM President and CEO Fritz Henderson told lawmakers Monday morning that unwinding the government’s stake in an orderly way would take longer than the Obama administration has said it wants to take. Giving taxpayers stakes in the company will, he added, create “154 million investor-cheeerleaders.”





Lamar plan: Distribute new GM shares to taxpayers | Nashville City Paper: Nashville's Online Source for Daily News



Sorry it's taken me so long to get a link up. Work never did get caught up today. My personal opinion is that I'd rather see the taxpayers hold the stock certificates instead of letting the government keep control. I think they should add AIG and CitiGroup stock for taxpayers as well. I'm afraid if the people allow the government ownership of GM and Chrysler to stand, then it will be that much easier for this administration to justify nationalizing something else. I'd suggest that anyone who thinks this is a good idea would call their senators and reps and tell them to get behind this idea.

 

[Caroljo]

Saw Romney on the Today show today, and he also said that if Obama doesn't want to run a car company like he says he doesn't, then all the shares for these companies should go to the taxpayers and let them run these business like they want. Let us decide if we want to buy or sell shares...it's our money that is going to these companies so we should be the ones to decide. But Obama won't let that happen, he'd have to give up something!