A New G.M., but Not an End to the Bailout Era

The New York Times reports:

as G.M. moves into its post-bailout period, Washington is still contending with other costly rescues stemming from the financial collapse of 2008. While the G.M. offering is expected to raise at least $16 billion, the federal government remains deeply enmeshed in American business. Tens of billions of taxpayer dollars have yet to be repaid. Many billions, in all likelihood, never will be.

The final accounting is still years off. Some experts warn that now that Washington has come to the rescue of big companies once, it will be far easier for it to do so again. The bailouts of big banks, Detroit automakers and others, like Fannie Mae and Freddie Mac, have, to some, laid the groundwork for future bailouts.

Having John Dingell's wife ,on the payroll, helps your odds of being a successful looter of the taxpayers.