The Issue: Washington’s bailout of General Motors and its continued control of the company.
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If it survives and can divest itself of federal dollars, it will be General Motors again (“The Dirt on ‘Government Motors,’” Charles Gasparino, PostOpinion, Feb. 5).
If not, instead of calling it “Government Motors,” we’ll just refer to it as “American Leyland” and probably end up selling off the good pieces to the Chinese or Native Americans.
Drew Kelley
South Gate, Calif.
GM did go bankrupt. Charles Gasparino implies it didn’t: “Bankruptcy lets you deal more effectively with issues like overly generous union pensions, which was at the heart of GM’s financial woes.”
The travesty is that, in bankruptcy, the United States violated the bankruptcy law and preferenced one unsecured creditor, the unions, against another, the bondholders.
Thus, when someone complains that one politician — usually a Republican — would have let GM go bankrupt, it would be in line with what another politician did with pride in early 2009.Roger May
The Woodlands, Texas