Friday, July 23, 2010

General Motors Is Lost In Space

Ford is continuing to report good profits, and it appears that the vehicles they are making are now almost approaching Japanese levels of quality.

Over at General Motors rather than focusing on manufacturing good vehicles which are high quality, get good fuel economy, and are priced right they are in the process of buying a finance company which specializes in sub prime loans. They want to be able sell more cars to people who can't really afford them by offering no down payment and 6 years of payments to folks with bad credit histories. Unhealthy and dishonest con-games like this are what got the American economy is so much trouble in the first place. And the really sad part is that us taxpayers currently own GM. Yet our government regulators are permitting this to take place.

Much of the problem is that Obama let a big part of the Bush team stay on. Our treasury secretary was a Bush man. He is an ex-Wall Street bozo who fit right in with the Bushes.