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GM exports your job to Russia
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The business of America was once GM. It was the corporation that this country could not allow to fail. It was the largest manufacturer in America’s lead industry – cars. But that was when the US manufactured things. We do not make things anymore. We manufacture debt. Today, our indispensible industry is financing. The corporations that we cannot allow to fail are Bear Stearns and AIG.
Last year, at about this same time, GM came to US taxpayers begging for a bailout. It warned of massive layoffs in America should its request be denied. But its request was not denied. By executive order, it was approved. However, workers’ jobs were not saved. There have been huge numbers of layoffs in the auto industry. So, what happened to the bailout money?
We may now have an answer. At least some of it may have been spent in Russia.
On October 26, 2009, GM proudly announced that following a $75 million joint project with Avtotar, it will soon start assembling GM Opel Astra and Zafira in the Russian port city of Kaliningrad.
The US taxpayer bailout did not save manufacturing jobs in the US, but exported them to Russia.
At least GM is not using US taxpayer money to reward each other for the stunning success of their failure like some of the other bailout benefactors.
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