About that investment in GM and Chrysler

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Citizen X
Number 519
Citizen X's picture
Conspirator for: 15 years 11 weeks
Posted on: November 3, 2009 - 10:53pm

From Agora Financial 5 Minute Forecast:

The U.S. government is “unlikely to recover” its $80 billion investment in GM and Chrysler, the Government Accountability Office suggested in a report yesterday. The GAO’s latest report claims the two companies would need to grow to a combined market cap of $121 billion for the Treasury (read: taxpayers and Chinese) to break even. No saying how much either company is worth now, as they aren’t publicly traded… but at their peaks, their combined market value was $94 billion.

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The great non sequitur committed by defenders of the State, including classical Aristotelian and Thomist philosophers, is to leap from the necessity of society to the necessity of the State.--Murray N. Rothbard