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So how was he able to stiff the Chysler and GM bondholders?
That was blatantly illegal, but he did it anyway.
Plus baraq uses regulatory agencies to do his dirty work.

Just askin.

Obama will steal whatever isn't nailed down, but a lot of our wealth is nailed down. He isn't all powerful and much of what he would like to take is beyond his reach.

The GM and Chrysler bond holders were in a weak position. The big ones were heavily beholden to the government for bailouts. The haircut they took was business as usual for rent-seeking crony capitalists. The smaller bond holders were few, isolated and vulnerable — low hanging fruit for gangster government.

America's retirement savings are a different kettle of fish altogether. Any effort to confiscate them would provoke a backlash that would make the reaction to Obamacare look like a lovefest. Remember that even when they were riding high the Dems didn't dare push overtly for a single payer healthcare financing system because that would gore too many oxen to be politically feasible. Swapping out valuable retirement assets for IOU’s from a bankrupt government would gore many more oxen much more deeply.

Long before they try that stunt they'll try to institute a VAT, but that won't go anywhere either. Dems wouldn't dare and the GOP won't permit it. When the government runs out of funds it also runs out of options.

You're right. He took over one-sixth of the American economy by getting a law passed in the dead of night without anyone even reading it first.

As long as the media is carrying his lunch pail for him, he can pretty much get whatever he wants.