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The Auto Bailout Quagmire
The Heritage Foundation writes:
Of more interest was the criticisms leveled by the bi-partisan panel — chaired by Elizabeth Warren of Harvard Law School — of the way the program was (and is) run. Among these: a failure to define the goals or criteria for the bailout, lack of transparency, and a lack of an exit strategy — leaving the question of when (if ever) the government will be selling its ownership stakes in GM and Chrysler. The report also questioned the government’s ability — as part-owner of these firms in a competitively-neutral hands-off manner, recommending that ownership be transferred to an independent trust.
