GM is raking in billions in profits … so where are the jobs?
On Alternet, filmmaker Michael Moore figures if General Motors is posting profits, layoffs can’t be far off. But seriously, why isn’t GM and the rest of corporate America hiring? When will Main Street start seeing the windfall from the government bailout of Wall Street?
The government stepped in with trillions of dollars in cash and guarantees to keep Corporate America from collapsing due to its own stupidity, short-sightedness and greed. And it worked—for Corporate America. You may not have noticed as you were being foreclosed on, but the profitability of the Fortune 500 is almost back to normal