Government theft: pure and simple …

It’s a fluid situation, but the noises coming from Washington would have the government take the unprecedented step stealing all of the company’s “healthy assets” and forming a new corporation which would be owned by the government of the United States.

Somewhere down the road, shares would be transferred to those who had the legal first call on the assets, the senior bond holders and to the unions. It is believed that the United States would forgive all of the debt created by government bailout funds – which would be tantamount to stealing the taxpayer’s money to aid a private corporation.

This is an unwarranted intrusion of the government into the private affairs of businesses and cannot be allowed to remain unchallenged under our system of capitalism.

The fact that government politicians and bureaucrats would be free to plunder the assets of any corporation is unconscionable.

Let General Motors enter bankruptcy like any other company, notably the airlines, reorganize and re-structure and if there were any problems they would be dealt with by a judicial process that has been handling bankruptcy for decades.

Toxic, far-left unions with a strangle-hold on politicians represent some of the worst systemic corruption in the history of the United States. They contribute nothing but strife and increasing labor costs to productive society – and offer nothing in return.

I would rather trust the judiciary and formal bankruptcy party than the democrats headed by Nancy Pelosi, Harry Reid, Barney Frank, Christopher Dodd, Chuck Schumer, Maxine Waters and the rest of the far-left socialists who are hell-bent on promoting a far-left ideology which is anti-American. Not to mention Tim “Turbo Tax” Geithner, the unelected bag man for the Administration.

Bottom line:

General Motors is not too big to fail and while its failure would have a measurable impact on regional unemployment, people would still be able to purchase new vehicles and service the old ones.

The government, with its insistence of higher CAFE (Corporate Average Fuel Economy) has already doomed the major automakers to death by demanding new cars which will require new tooling and production processes in an extremely capital-intensive re-design.

And possibly condemning many Americans to an early death in unsafe mini-cars with little or no crash resistance. The fact that the government sets crash standards as low as 5 miles per hour is ludicrous, unsafe and should not be accepted by the public.

We need to take action now against the corrupt and complacent democrats …

-- steve