Here's an excerpt:
Whether the American taxpayers get their money’s worth out of the investment, which they won’t, is beside the point. The precedent has been set for a massive public-private partnership in the auto industry, which can easily spread to other industries (and already has).Your comments are invited, here and there.
Granted, Chrysler gets partial credit for that precedent, owing to its $1.5 billion loan in 1980. Giving credit where it’s due, Chrysler’s loan did get paid back. But several things are different now that raise the Volt fiasco to a new level.