Actually the banks repaid loans with interest. The government restructured the bankruptcy of GM to prioritize certain groups over others. People were upset because the action violated federal bankruptcy rules and many dealers and small investors were not paid, resulting in the loss of their small businesses and thousands of jobs, just not GM employees. That said, we can make the argument that many of these businesses would have collapsed on their own because of the economic conditions. However, government interference ensured the protection of only certain people and it cannot be ignored that those who were protected were large financial contributors to the president's campaign.
Great question! Had he given that money to each american citizen that votes we all could have received roughly $50,000 EACH!!!! Many of our US legal citizens likely would have got ourselves a new car and been able to pay off much of our own personal debt. THAT certainly would have stimulated our economy. However our government thought giving billions of our tax dollars would be better spent handing it to billion dollar companies that have proven to not be able to manage money. And naturally they failed. Too bad really, many of our citizens just down on luck really could have changed their lifes, sent their kids to college, bought cars from GM and taken care of much personal debt but.... That's Uncle Sam and he needs you. Our founding fathers must be rolling over twice in their grave before they s!!! themselves. God bless America. Is there really any question why the rest of the world looks at Americans like we're fools? Can we really blame them with this leadership? We are fools for letting our government do this in the land that began with power of the people. This country is over unless the people take it back but frankly in my opinion it's most likely too late at this point. Too many greedy people willing to step on their mothers to make an extra buck. Sad really.
Obama has done so many mistakes in past and will be doing in future. Many tax payers money in going in vain just to show that they are supreme. The attitude should be changed and the righteous person should be chosen so that the people should be less burdened by the hefty taxes.