Jun 01 2009

General Motors Files for Bankruptcy

WASHINGTON – U.S. Senator Lindsey Graham (R-South Carolina) made this statement on General Motors filing for bankruptcy.

“It is a sad day for America to see General Motors have to resort to bankruptcy.  Unfortunately, their current business model was doomed to failure in the global economy.

“I believe the government bailouts of General Motors should have stopped a long time ago.  It is unfair to other car companies who manufacture in the United States to have to compete against auto companies owned by the federal government.  The Obama Administration has made a serious mistake with its massive intervention into our economy as a whole and particularly with the domestic auto industry.

“Let’s be clear, much of the government’s actions leading up to the bankruptcy proceedings have been driven by union politics.  The Obama Administration has put the interests of the unions first, even ahead of the American taxpayer.  I strongly disagree with their decisions on this matter.  I also recognize the unfortunate burden this places on the many family-owned car dealers and auto parts suppliers who will be forced to close their doors through no fault of their own.

“I have no desire for the government to own and operate a car company.  I will work to put Members of Congress on record as to whether or not they support the Obama Administration’s intervention in the domestic car manufacturing industry.”