The lamestream media told you:
"And now, let me be the very first to congratulate every single one of you viewers. You are the soon-to-be new owners of General Motors, or as we're going to soon call it, 'Government Motors.' Yes, the big day looks like it will be Monday. GM is expected to file for Chapter 11 bankruptcy. The latest restructuring plan for GM calls for the U.S. government -- that means you -- to own about 70 percent of the company." --FOX News, pretty much the same as every news outlet both before and after the bankruptcy filing by GM.
The Uninvited Ombudsman notes however that:
The idea that Americans own a piece of General Motors is absolute nonsense. It is political grandstanding, unethically perpetuated by a "news" media gone wild. You have no stock, can cash in no bonds, should expect no dividends, cannot sell or expect appreciation in value, cannot assign your ownership or trade the asset for another, or use it to vote for policy at the company, or count it among your holdings, or leave it in your will. You have nothing, but the media delights in saying you do. The media should be ashamed of itself for perpetrating this bald-faced lie. They're not.
Bureaucrats and elected officials in government, mainly those connected directly to the Treasury Dept., own the majority interest in the company "on your behalf" and affect its policy. The correct term for this is "illegal socialist control of industry."
What you do have is money taken from you by force through taxes (try not paying to see how the force part works). It has been unconstitutionally given to this failed company. Actually, I guess that's what you do not have -- the money you earned that is no longer yours.
What the new owners-on-your-behalf have, is trips to Detroit to see how things are going, meetings on the 77th floor with luncheon served, rounds of golf between meetings, clubbing at night, cars and hotels and meals around the world as part of the managerial care of "your company." And the extra power that comes with it all.
Referring to the banks, and the insurance companies, in addition to GM, Michael Moore gloated during an interview that we, the people, which he said means the government, now own all this stuff. "This is great. I never thought I'd have any of this in my portfolio." Michael, you don't. And we, the people, is the opposite of the government.
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