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December 03, 2009

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No, you have it wrong. We gave (not gambled) those billions to GM, and we are not getting the money back, whether or not New GM makes it. And New GM is not hiring back all their old workers, and New GM is never getting back market share. The bad bet was giving them the billions in the first place. They were not too big to fail. They were too big and too arrogant and too complacent and too calcified to live. So we gave them fifty billion and they croaked anyway. The bet was not a bet and we do not still have a chance of "winning."

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