Seriously, I've spent a couple weeks now scouring wikipedia, watching a few news shows and I have no idea wtf happened, what is happening, or what is going to happen.
Here's what I know:
1) Years ago, GM and Chrysler agreed to outrageous demands made by the UAW union.
2) Due to the incredible overhead costs that this incurred, they shifted their manufacturing resources to SUV's and light trucks, due to higher profit margins, which allowed the company to stay afloat.
3) Consumer perception of such brands plummeted, and rising fuel costs drove customers to seek reliable, fuel efficient vehicles, mostly from foreign manufacturers.
4) GM and Chrysler reap what they sew, and now, to keep GM from failing altogether and Chrysler from failing altogether AGAIN, our government sinks... What was it, like $130 billion into these companies?
5) GM and Chrysler fail altogether anyway, so our solution is to USE PUBLIC MONEY TO BUY STOCK IN THESE COMPANIES?
Do I have the gist of it?