Monday, March 5, 2012

Bailout Sellout

 [Posted by Jake]

At a campaign rally last week, (labeled a "policy speech" so taxpayers would foot the bill) our Democrat prevaricator-in-chief demagogued his support of the GM and Chrysler bailouts. Left unsaid were all the people who were hurt by Obama's unscrupulous pandering to his union supporters with our money.
Conservative commentator Michelle Malkin tells the heartbreaking story of the workers at the Delphi/GM auto parts company that the White House and the liberal press have chosen to ignore.
...The bailout plan was not distributed equally. It was redistributed politically.
Bondholders standing up for their property and contractual rights got shortchanged and demonized personally by the president. Dealers and suppliers faced closures based on political connections and lobbying clout, rather than neutral efficiency evaluations. And as I first reported in 2010, in the rush to nationalize the automotive industry and avoid contested court termination proceedings, the White House auto team schemed with Big Labor bosses to preserve UAW members' costly pension funds by shafting their nonunion counterparts.
Read the whole article. It is not just an isolated incident of bad luck. This is institutionalized corruption at the highest level, compounded by media lapdogs too lazy or too biased to challenge the self-serving DNC narrative. autoworkers-obama-left-behind/


Anonymous Anonymous said...

Oh please and did the Congress yes the congress not do the same thing for all the banks
And wall street idiots that ran this country into the ground obama picking up the pieces Congress voted on the bail out Congress decides where the money goes.

March 5, 2012 at 10:17 PM 
Blogger zdnevie said...

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March 6, 2012 at 3:39 AM 
Blogger steve mcdonald said...

And if we, the people, lost our investments, retirement, premiums, etc, there would have been chaos throughout. It was a lose-lose for all.

March 6, 2012 at 7:31 AM 
Blogger Dannytheman said...

Be politically connected and get rich. That is this administrations theme song!

Dump President Obama in November!

March 6, 2012 at 8:34 AM 
Blogger Bob Bohne said...

9 9 9

March 6, 2012 at 11:27 AM 
Blogger CharlieSix said...

Be politically connected, create the shell of a green energy startup, come up with an unachievable business plan, get big bucks from the Obama administration, burn through most of the big bucks without any viable product, declare bankruptcy, and take the leftovers as executive bonuses. Yeah, that's the ticket. Fantasy? How do you spell Solyndra?

March 6, 2012 at 10:15 PM 
Blogger Bob Bohne said...

Great editorial in todays Times about the improving economy...

"The auto industry, which proved worthy of it's bailout, hired more than 200,000 people in recent years."

"For the last two years, about 3.7 million payroll jobs have been added by the private sector."

"But it is still a promising economic picture considering in 2009 Obama inherited a more than $1trillion deficit from Bush who had a $200 billion surplus to work with when he succeeded President Clinton in 2001"


March 7, 2012 at 8:45 AM 

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