GM screws the US people and gets big bonuses, Does not pay the money back
GM didn't do anything wrong. They begged, they got a hand out. Do what they got to do. It's the consumers who think they did wrong and buy their products. Don't buy a GM product. Millions don't, better options out there. But GM is not to blame for taking a hand out.
It's true they had little choice. But they didn't need to lie to their investors until right to the last minute the way Rick Wagoner did.
I think he liked CEO perks and liked being paid CEO pay. Maybe that would have changed if the truth had gotten out.
Rick Wagoner was working for $1 a year when Obama fired him.
That should not mean that the Federal Reserve is authorized make loans to any individuals, partnerships and corporations with the approval of as few as two unelected bureaucrats. It should not mean that these few unelected officials face no required checks or balances. It should not mean that Federal Reserve officials need no detailed source records, nor, if they do exist, should they destroy them, a policy they began in 1995. There should be full individual accountability for each of the Fed's unelected officials who have immense power over the economy.
Only two unelected bureaucrats at the Federal Reserve can decide who can receive trillions of dollars of loans without even consulting Congress. The Board of Governors of the Federal Reserve (not the Fed's other policy committee, the Federal Open Market Committee) has the immense power to bypass the congressional appropriation process to make loans to individuals, partnerships and corporations that are "unable to secure adequate credit accommodations from other banking institutions" provided there are "unusual and exigent circumstances."
But they handed out over $3.3 Trillion to over 21,000 business and banks and even Toyota and Korea