Buy a Camry, not a Malibu : The US Government Shakedown of Possibly the World’s Greatest Car Company, Toyota

Source : MarketOracle.co.uk

Toyota just paid $1.1 billion to settle lawsuits alleging random acceleration problems in its cars. The allegations were, and are essentially false. But, Toyota paid out because it knew it had to, to move on. A giant speeding ticket to the government. (And Toyota wasn’t even speeding.)

Back in 2010 I said this:

Remember the CEO of Toyota being dragged in front of Congress for a whipping? And for what? Absolutely nothing.

In the attached article, BigGovernment.com makes a similar argument to the one I made above, 3 years ago.  The whole take-down of Toyota just when GM needed a push from the general public and some good headlines for political reasons stinks. It smells. It’s rotten. But hey, crony capitalism has a distinct smell. It lingers in the air a lot more these days.

Buy an Camry, not a Malibu. Buy a Prius, not a Volt.

(From BigGovernment.com)

It was perhaps no coincidence that the Obama administration had recently taken over General Motors in a highly unusual bailout. Instead of taking GM through normal bankruptcy and restructuring, the government poured billions of taxpayer dollars into it, set aside primary creditors to protect unions’ pensions, and then took the company to bankruptcy. Amidst controversy, Obama was desperate for a GM success story.

So when LaHood blasted Toyota, it was not just as a regulator, but as a competitor.

Click here for the story.

22 comments
Peggy Campbell
Peggy Campbell

The liberal media is always going out of their way to put down Toyota. I love, love, love my 2007 Camry. Great car.

Kerry Schultz
Kerry Schultz

By the Way ,I dont own a Toyota but if i was going to Purchase a new Car thats what i would buy.It matters not who owns the Company but who they Employ. I support Americans not Mexicans and Chinese etc

Kerry Schultz
Kerry Schultz

No way i would ever buy a new Ford ,Gm or Chrysler,Hecho en Mexico . Fck sellouts for Cheap Labor.

Kerry Schultz
Kerry Schultz

I said Toyota is 96% made in the USA ,take the time to read.

George Mcfarlin
George Mcfarlin

I willl not buy a Chrysler or G.M. product. Absent clear evidence of unfair trade practices, tariffs, or other restrictive trade barriers erected by foreign governments against U.S. companies, the Federal Government should not pick winners and losers in free enterprise.

Aidan Haggerty
Aidan Haggerty

My family had a Malibu once, it had major breakdowns frequently after 4yr or so. My Honda Civic hasn't breakdown on me and it's 10 years old. The Japanese companies built better car than the USA.

Kenneth Edwards
Kenneth Edwards

I will no longer consider a Chrysler, or a GM for a vehicle as they are being made by anti-American car companies.

Mary Rich
Mary Rich

So your saying Toyota is an American company, way to go supporting overseas manufacturers.

Jamie Watts
Jamie Watts

I will never by GM again. We bought our last one in 04, but never again!

Diane Stewart
Diane Stewart

That is what my husband and I did. We weren't going to buy anythings the government had their dirty big hands in.

Martha Lee Vincent
Martha Lee Vincent

Don't buy a GM (government motors) car. Too much of our taxpayer money has been wasted and not paid back on these corrupt union officials.

Robert Circle
Robert Circle

The Government does have a great role as a referee. But when the referee become a player people should question the fairness of it's role as a referee. Toyota does make cars in the US but it does this without the "Help" of the UAW. The auto bailout was not for GM but for the UAW. A bankruptcy judge would have hit the UAW really really hard. Instead they got some really nice IPO share package. While original public share owners of GM stock got screwed. Anyone who buys a GM car is an idiot the new GM stocks is a real IDIOT!!!

Michael Ray FitzGerald
Michael Ray FitzGerald

I suppose it's just a coincidence that the government took over GM and that Toyota was its biggest competitor at the same exact time the government launched an investigation?

Kerry Schultz
Kerry Schultz

Camry is 96% made in USA ,Malibu is Hecho en Mexico

MichaelMullins
MichaelMullins

No different than what happened to Audi and no conspiracy involved. Buy American if possible and there is no reason not to.

Jeff Creager
Jeff Creager

Though I can't stand GM or Toyota, the gov has to be fair, how about the Volt debacle John ?

John Hamm
John Hamm

Oh, you're defending the wrong company here. Those Toyota's did have a problem and they covered it up.

MichaelMullins
MichaelMullins

Then buy a Ford. They're just as good asToyota and al American!@LibertyandEcon @MichaelMullins