I wish I'd thought of this...

General Motors' Highest Value Is As A Power Base Expander . Or Dependency Expander....

"So what else is GM other than a car maker and lender of money?

Its value IS to be "bailed out". I say this in all seriousness.

It's a huge interface with millions of voters- and their livelihoods, savings, pensions, debts, mobility, their health...

The only thing that makes GM valuable at this price is that it is a ready made conduit, all set up. What for?

Delivering loyalty payments from "the government" to reliable voters. Buying new loyalty from stockholders. Buying gratitude from the workers kept on who aren't paying their way. Patronage, from contracts and positions.

That, and an unrealistic pension/medical benefits scheme which, when it fails, can be "rescued". Think of how thankful all those sick old people will be!"

Read the whole article. It's brilliant.

(h/t to Tam, whose blog post was the inspiration for this author)