The Stench Of Crony Capitalist Corruption At GM

The Stench Of Crony Capitalist Corruption At GM | David Stockman's Contra Corner
But this episode is not about culpability for one failed part—especially since it now appears that GM is close to achieving the recall of every single car it has ever made in the last several decades.
The real issue is the corruption of crony capitalism.

An out-of-control, dysfunctional, dangerous, red-ink bleeding industrial dinosaur like GM should have been put out of its misery in Chapter 11 in 2008.
After all, folks, GM did manage to loose the stunning sum of $85 billion during the five years leading up to 2008, and it did so after selling 35 million vehicles at total revenues of nearly $1 trillion. 
No industrial managers have ever—before or since—managed to accomplish such an economic fiasco.
So instead of being resuscitated with $50 billion of taxpayer money, there should have been a giant house-cleaning at the top. 
The entire corpus of management should have been unceremoniously fired, stripped of their perks, pensions and  other retirements and pursued relentlessly by the creditors for their insuperable incompetence.