Oracle of Liberty

Constitutional Liberty and Economic Common Sense

Chrysler & Obama


It started under Bush, the bailouts for autos, and continued under Obama. Ask anyone with half a cell in their brain about the ultimate outcome of GM/Chrysler and everyone would have called it…Bankruptcy. Politically, the media and administration(s), wanted to look as if they were worried about job losses and ‘systematic risk to the economy’ and try their hardest to save them. Then Obama gets in and given that he rode the coattails of the unions into the white house he was not about to leave them out in the cold. So what does he do? He breaks every contract law in the book and every lending practice there is by screwing the secured creditors (in any normal BK they get paid 1st since they had most at risk from $ standpoint) and putting them in 1st loss position vs. last loss which is how the law is written. Also, he gives the company to the union which was a major catalyst in why Chrysler was forced to file BK. Secondly, the next biggest ownership of Chrysler is the Government and the french. Sweet justice when the French have equal risk really as the US Govt. We bail them out of being run by evil tyrants TWICE and they come to our rescue economically. Sad. Lastly, the bond holders (the second most secure in any transaction) ends up with 10% ownership. But the real crime is the taxpayer. Poof, $7 billion to Chrysler gone of our hard earned money.

You liberals and those who hate prosperity just learned a valuable lesson but chose not to indicate you learned from it. You vilified AIG, Lehman, Merril, etc., for receiving tax payer money and paying bonuses but choose to say nothing when every person in the room knew Chrysler was going BK but sat by while our government kept spoon feeding them money that they knew we would never get back. What are saying now? Why aren’t you upset that our (your) govt just played their full pot on a hand that didn’t even have two pair?

If you thought this was over…just wait for GM. I can tell you now how its going to play out. UAW wins, govt comes in second and the US Taxpayer and those with supposedly the least amount of risk get SCREWED. Welcome to the new U.S.A. It stands for Union States of America, headquartered in labor union bosses offices across the nation. Enjoy your demise. Let’s just hope the American citizens stop burying their head in the sand and take back their country!

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Information

This entry was posted on May 14, 2009 by in Uncategorized.

Follow me on Twitter

Blog Stats

  • 1,904 hits
Let's Go Adventure

Go Travel. Go Adventure. Go Live.

Politically Short

The American Reality Outside The Beltway

Oracle of Liberty

Constitutional Liberty and Economic Common Sense

Secret of My SucCecil

Looking at the World thru My Eyes: A World Glass Half-Full

DARECONOMICS

You have left the Mainstream.

All Content

Constitutional Liberty and Economic Common Sense

Bullets First

A modern twist of Molon Labe

It's not my fault.

© Wendi Bear 2017

Watts Up With That?

The world's most viewed site on global warming and climate change

Liberty News

Report Truth. Take Action.

Your Weekly Constitutional

Constitutional Liberty and Economic Common Sense

FreedomWorks - Lower Taxes, Less Government, More Freedom

Constitutional Liberty and Economic Common Sense

The Daily Signal

Constitutional Liberty and Economic Common Sense

The Black Sphere

Constitutional Liberty and Economic Common Sense

Ace of Spades HQ

Constitutional Liberty and Economic Common Sense

The WordPress.com Blog

The latest news on WordPress.com and the WordPress community.

%d bloggers like this: