He is just getting started.
Posted on 05/05/2009 11:47:25 PM PDT by Jim Robinson
Which clause of the constitution authorizes the president of the United States to take over a major corporation like GM? First, he loans the company billions in taxpayer funds from the US Treasury, then fires the CEO, takes over the board of directors, converts the debt to equity becoming the majority stockholder, and now using the SEC and US Treasury (surely a major conflict of interest) proposes issuing billions of shares of new public stock completely wiping out the current stockholders. Is this even legal? Constitutional?
I’m speechless Jim.
Maybe it’s time to leave for greener pasture?
But where to go?
I really don’t see any chance of retaking the country at the ballot box anymore...too much fraud...and it will be far worse from now on than it has ever been.
The issue is not legal or illegal (I suspect it is probably legal or at least arguable), the issue is that no one is speaking out against it. One would have expected that Republican leadership would be all over the news persuasively arguing that this is Socialism (or Fascism). Of course, one also would have expected that Republican leadership would be all over the news talking about The Apology Tour.
In both cases it appears that one would have been wrong.
Nothing, from his candidacy, campaign, pseudo-election to actions taken since grabbing power has been even vaguely legal or Constitutional.
Question is, when are we going to do something about it?
He is just getting started.
This is OUR country, and it's high time we take it back.
If he gets his way and stacks the court, the Constitution will be declared unconstitutional.
That’s what I am wondering? Since when does he have this power? He doesn’t.
From: Union rejects GM's restructuring plan
The United Auto Workers (UAW) union rejected General Motors’ (GM) latest restructuring plan, underlining the uphill battle the troubled auto maker faces to avoid bankruptcy.Which clause of the constitution authorizes the president of the United States to take over a major corporation like GM?[Snip]
The UAW’s rejection of the GM’s restructuring plan indicates how difficult it will be for the company to avoid filing for Chapter 11 bankruptcy protection as its rival Chrysler did last week.
GM’s bondholders have already rejected the company’s offer of a 10 per cent stake in return for forgiving the $27.2 billion that GM owes them.
Chrysler was forced into bankruptcy last Thursday after winning concessions from the UAW and its biggest lenders but failing to convince smaller lenders to take a pro rata share in $2 billion in return for erasing their portion of the company’s $6.9 billion debt.
For that matter, which clause of the constitution authorizes the federal government to take over education, housing, health care, welfare, pensions, etc.?
Hello all Obama Supporters, welcome to the Obamanation!
One of the real ironies here is that its always been the Dems who opposed letting social security invest in the market. And now they seem to want buy controlling interests, not just invest.
If you’d told me a year ago that people would be discussing nationalizing banks and the auto industry leaving Russia and China in a position to criticize us for not being free market enough I would have (politely, I hope) said you were crazy.
We live in interesting times.
The USA is no longer controlled by "We the People". It is now 'Totalitarian'.
Move to Texas and help us secede.
“which clause of the constitution....?”
Apparently, any clause that 0 feels like writing on any particular day since, dontcha know, he taught constitutional law(everyone bow down now and face the one).
And, unfortunately, since we have numerous congresscritters that could give a rats behind about protecting US citizens who voted for them .
yitbos
I’m less than a mile away...in NM :-)
Too big to fail they said. I wonder how this company now feels about being saved by Obama?
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