Imagine this: You take your family out to the restaurant. The food was rancid, the service horrible and everything was overpriced. As you walk out of the restaurant, you turn to your spouse and say:
"Wow! That was horrific! Let's buy the place!"
As preposterous as that sounds, it seems that's exactly what we, the taxpayers, are doing with General Motors.
Yep, as GM heads into bankruptcy, it appears that when the fat lady sings, the U.S. government (that is, you and me) will own about 70 percent of the company, to the tune of some $70 billion.
I guess that's our punishment for buying Honda Accords and Toyota Camrys instead of those most excellent Chevy Corsicas and Pontiac Azteks.
When I was a kid, a guy name Victor Kiam owned the Remington shaver company. He appeared on the company's TV commercials, saying that he "...liked the shaver so much, he bought the company!"
Victor Kiam must be doing somersaults in his grave.