The Risks of Nationalizing GM

Any bets on which economic sector might be nationalized next? Health care? Energy? Walmart? This is a good editorial on the GM situation: http://www.nytimes.com/2009/06/02/opinion/02brooks.html The one point to which I would take exception is the implicit assumption that the Feds will hold on to their stake for a prolonged period. I doubt it. Such a continuance would be flagrantly against our traditions and public displeasure would accumulate. Also, GM will be a much smaller company in a couple of years and therefore of less economic and political consequence than ever. Ford has staked out the moral high ground and it will use it against corrupt support for GM if necessary. But, the key failure is well-defined by Brooks: the Obama plan bows and scrapes before the entrenched interests that destroyed the company. Management is mediocre, the unions parasitic. The plan does nothing to change this reality, leaving us with the likelihood that our collective investment in GM will turn to mud.