Last time the bond holders got screwed.
This time it will be the taxpayers, not the UAW that get screwed. Compliments of 0bama
So many people got screwed it would be a big job to list them all.
Don't forget the many profitable dealerships Obama ordered closed and the jobs he killed.
Over 2,000 GM and Chrysler dealerships were closed putting 1000,000 people out of work, and destroying the equity value of these small businesses. If anyone wants proof of his disdain for small business owners just read the history of this "Grand Theft Auto".
The entire auto crisis was manipulated by Obama to steal property from the rightful owners, investors and creditors and hand it over to the UAW.
It would be interesting to see how many of the people Obama bankrupted, stole pensions from, and put out of work will still vote for him this time around.
And the cruel irony is, that GM and the country would be better off today if GM had just gone through the normal bankruptcy procedure. But that would not have rewarded the labor unions for the support they gave Obama in 2008.
This time it will be the taxpayers, not the UAW that get screwed. Compliments of 0bama Depends on timing. Can't win this case too quickly. Need to stall past Jan 20. Even past Jan 1st (new congress) would remove some chances for mischief. Of course both presume we win the elections. We lose all otherwise.