The state-capitalist firm General Motors has been running a marketing campaign with the tagline “Everyone Deserves Excellence.” A standard piece of product differentiation, the campaign is designed to promote the false notion that GM is doing something new in making and pushing wildly expensive petroleum-guzzling death machines. It is not, of course.
But now the other shoe is dropping. Turns out the new tagline is also a set-up for this:
NEW YORK (Reuters) — General Motors Co. is in talks with JPMorgan Chase and Wells Fargo on deals aimed at providing improved access to consumers for auto loans at its U.S. dealerships.
The negotiations with JPMorgan and Wells Fargo are intended to broaden the availability of auto financing — particularly to subprime borrowers and for leases. Such a move would remove a potential investor concern around GM ahead of a planned initial public offering, according to the sources.
So, the “excellence” that even the “subprime” deserve turns out to be yet another high-interest loan on a lemon product.
And the atrocious Obama Administration is performing its unwavering role. Saying it knows it “can’t win every fight,”* it will accede to exempting car dealerships from the purview of the Potemkin Village it is now setting up to provide the illusion of “consumer protection.”
This overclass has nothing left but bubbles.
*Translation: “We don’t actually fight any fights.”