UAW to get 55% ownership of Chrysler -obama using his power to payback the UAW for their political contributions to his getting elected; and then publicly trashing bondholders as anti-American.
Obama is trying to cut off bondholders from even having their say in court -getting 5 cents on the dollar is an insult to anyone in a rational court of opinion or law. obama twisting the law and making up new laws everyday to put a union in power over a company -and not allow bondholders representation is a sick direction for America to be going.
One more time: obama says unions and gov first, -private enterprise business and the rule of law last.
There is your direction, America. Get the obama union into Wal-Mart by doing away with the secret ballot; and then why not just let the unions own Wal-Mart or any other business? Makes sense. There could be some investors that realize investing in America by corporate bonds is a bad idea –if you are dealing with a union company –you may end up with 5 cents on the dollar as long as the obama union is in charge of America.
One more time: Financial meltdown was not the banks –it was the law under Clinton to not regulate, -it was hundreds of politicians and regulators asleep at the wheel for the last 20 years.
One more time: Taxpayer money to banks may have made sense –as America has to have a financial system. Taxpayer money to the big three makes NO SENSE –America does not have to buy a new car –esp from the big 3 that have had a cancerous UAW on their back for decades. I wish all of the big 3 money would have gone to the new American companies that are just getting started; or to Ford that must have worked out a reasonable deal with their union contracts; or even foreign automakers that have factories in America that are turning out great cars. But wait, those are in republican states; -and obama is about growing his power base where the most electoral votes are.
I wish there was a place that we could turn to get good news reporting; but America does not even remember that it was free enterprise capitalism that got us here; not lying anti-American politicians looking for power and control of America. JayR