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All right well we know that the government is going on since he presented a new G down then it's onto Chrysler but what do you get for that my next guess is -- plan of -- here that these sorts it is to get taxpayers.
A piece of the action all the shares of GM and Chrysler stock then senator -- Washington the auto makers -- -- Lamar Alexander Republican senator from Tennessee senator to have you that this is a novel idea I guess we do wanted to on -- -- We might -- we'll have the proof right.
Yet instead of having it in the name of your government having your own name the -- after GM comes out of bankruptcy.
The government -- about.
60% up at about 8% of Chrysler.
And taxpayers have paid fifty billion dollars for that GM stock so.
I'm introducing legislation along with some other senators and say within a year.
Give the stock to any American who pay taxes on April 15 -- you'd end up with a few shares of GM stock in the government would stop meddling.
I'm still you could have worthless piece of paper to write.
Well it could put it if it's worthless it's worthless here in Washington.
So it -- my -- -- iPod and it might also be in your pocket it was your money it's your money -- -- -- worthless -- tonight is -- Let me ask you know senator why not extend this to any rescued -- Merrill Lynch Bank of America.
You know AIG and on and on.
That's a little more complicated is that might be a good idea.
And I want to.
Take a look at at at the financial institutions but I'm sure -- as far as the auto companies goes it's a good idea -- for example yesterday had.
GM and Chrysler CEOs testifying for hours and I'm sure they they drove here they're congressionally approved hybrid.
Method of transportation.
So that would take them all day to get from Detroit testifying go back how many -- these how many did they design.
Mean how many did they build other up here we've got sixty congressional committees -- subcommittees that can be calling them up here every other day.
We got the president calling up the mayor of Detroit telling where the headquarters on -- fell and and in the auto task force telling telling them they're making too many suvs and.
Wolfson thank you all these guys say how good -- and economists -- say it's another committee and you're right there's somebody didn't committees are gonna.
-- say look I'd love to -- you know chat within lies in but I got a company around I got cars to make Baghdad.
You know an operation to turn around I can't make it with you but he's got 535 bosses now on a big one -- -- White House right.
They can subpoena him.
And if your big lender calls you up and says do this do that do the next thing -- probably going to take his call to the only way to get out of that situation.
Is to get the stock out of here Washington -- right into the hands of somebody else -- take several years to do it.
The way the treasury plans to do it so I say just do the next few months.
Create a sort of Green Bay Packers attitude among -- Italian American not American.
You -- we're smiling hackers in Wisconsin and well okay all of this zero but let me ask you -- -- be careful what you wish for right let's say.
We all do get this -- certificates and in in this new entity right.
Than when regular -- make a little bit of money.
What's to stop all those Americans from passing out the same day that would drive -- -- right into the ground again right.
No let me just drive the stock and the program.
Americans wouldn't do that they'd be in the cradle thing we used to call the marketplace you know we have.
Hundreds of millions of stock shares fully everyday people violence elementary -- my -- would put them.
Where where we're custom.
To having -- but the main thing is they can't run the car companies.
If they're getting directions from 535 congressman Sanders who don't know anything.
About building cars and me.
They're going to have a hearing on.
On why are you buying a -- and electric battery from South Korea to put Chevy Volt.
When you could be -- it from my congressional district with a reason they're doing is because it works and it's cheap and it might make him some money.
So everything is going to be scrutinized and I'll never be able to get -- Now that's right plus I think Americans are sick of the idea of the government taking over everything in trying to run it we don't know how to -- a bank.
And our company and we ought to get rid of it as soon as possible.
The president GM said.
-- -- -- several years.
Just to manage down this huge amount of stock so that's -- just put it back.
Let's put it back in the pockets of taxpayers who pay -- in the first place.
Well good or bad I mean we -- -- so you're probably on to something senator Alexander always good having you thank you very much thanks for your time well.
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