How Much Of Coporate America Does The U.S. Own?

The Atlantic:

As you've probably heard by now, Obama is sending General Motors to file for Chapter 11 bankruptcy. And, as you've also probably heard, the United States will become the majority shareholder of the restructured company, with 60% of the stock. Nationalizing a large car manufacturer is interesting and controversial for all kinds of reasons (is Ford, the "last American car company," now competing with America?), and I think Jon Cohn is making some good points here.

Read the whole story: The Atlantic

Comments

[killpack]

11:16 AM on 06/02/2009

I love the comments here on how Corporate America somehow owns the government. While it may be true that the corrupt Feds would like for you to think that, the truth remains that the Feds are definitely the ones in charge. Don't be fooled. Governing bodies, not corporate bodies, have police power. As corrupt as any given corporation might be, it will NEVER be able to send me to prison. Only a government entity can do that. For example, I have every right to not invest in a total piece of crap scam of a business like AIG or GM when they offer to sell me shares of their stock or any other investment they might offer. They cannot force me to invest in their business. They do not have that authority. Guess who does have that authority, however. You got it. The Feds! While it is true that corporate big shots must have a significant amount of influence on the Feds right now, the Feds are ONLY ones who can take money by force from people and actually give it to their friends at GM, AIG, Citi and countless others. Some of you people better wake up.

[girlwild]

08:43 PM on 06/01/2009

That's right, the US Government does not own a a big piece of Corporate America.

Corporate America owns a big piece of the US Government.

[yappnmutt]

07:50 PM on 06/01/2009

bbc just reported that geithner was laughed at by a chinese audience when he asserted the dollar was a sound investment for china. owning gm and the banks prolly helped the joke.

[ZIPCODE]

07:40 PM on 06/01/2009

US Government Does NOT Own
"A Significant Swath" Of Corporate America

YET!

[Scoppertop]

08:28 PM on 06/01/2009

No, what I'd like to see is how much of the US government is owned by the corporations.

Since the US gov't DOESN't own Corporate America, then why are taxpayers paying to fight wars to protect 'non-interests'? It seems the corporations should be paying for their own security forces.

[pricespector]

08:44 PM on 06/01/2009

You're an id iot. This country was almost entirely built on private enterprise. Give me a break. Where do you think you get your income that makes you "taxpayer"?