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Feds' Surprise GM C11 Exit Strategy: There Isn't One!
by
Robert Farago
(IC: employee)
Published: June 11th, 2009
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What do you make of this, then: “We do not have a specific target in terms of years, The mere issuance of that blueprint, we believe, would be market disruptive.” So sayeth Ron Bloom, leader of the Presidential Task Force on Automobiles and architect of Uncle Sam’s $100 billion plus GM/Chrysler bailout. Ron was testifying to the Senate Banking Committee re: the Obama administration’s timetable to extricate the government from the domestic automotive industry. But wait! That’s all! The government will divest itself of its 60 percent stake in GM “as soon as is practicable,” Bloom said, but “I certainly by no means would say that I am confident that will occur.” What? EVER?
Robert Farago
More by Robert Farago
Published June 11th, 2009 10:01 AM
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Hey Lincoln126Mercury the cold war is over. WE Won ! You lost !
@scarey It remains an open question whether the Cold War, and the follow-on role of the U.S. as world policeman, will take down the U.S. as well as the U.S.S.R.