It would take a man of integrity to admit he screwed up, accused obama of hustling him and reverse his decision.
The GM bailout was so unspeakably corrupt that I am boycotting that company and its successors (whether named “New GM” or otherwise) forever. If they go back, do it honestly, and make the bondholders and others who were stiffed the first time around whole, I will reconsider. I doubt that those who were ripped off in violation of contract law, bankruptcy law, and common law are holding their breath in anticipation of justice, not with a corrupt communist in our White House.
Somebody representing the union administration will pay a visit to this judge in the middle of the night and convince him to rule in a way that won’t harm him and his family’s health.
Please Judge Gerber, just do it! The whole GM “bankruptcy” was a sham. Screwed Republican-owned dealerships, hosed those who were shareholders and bond holders, Forced management to resign, and handed the company over to the UAW. Just hope that the judge is really pissed off about being lied to.
Al Quaeda is alive and GM is Dead!
Here is a better explanation of the deal they cut.
So now it's considered a "windfall" when one makes a loan or investment, secured by a "NOTE."
Bernard Madoff swindled people out of billions of dollars. Sentenced to 150 years in prison.
Barack 0bama swindled America out of $6 trillion. Sentenced to 4 more years as Warden.
0bama: Fake black (Mulatto) man. Fake Messiah. Fake American. How many fakes can you fit in one Zer0? C0mmander Zer0.
Next they will be saying just what a smart guy Johnny ("I simply do not know where the money is, or why the accounts have not been reconciled to date.") Corzine is.
John Corzine, a Democrat, and 1 year, and seven month's (or just 19 months), from March 2010, to October 2011, was CEO of MF Global Inc., The company filed for bankruptcy protection in October 2011. Certified Smart Guy.
Profitable because 'Rat-infested town govts, 'Rat-infested city govts, 'Rat-infested state govts, and 'Rat-infested national govt are typically buying cars from Government Motors.
[I call it the "national" govt because it likes to "nationalize" whole industries]
...see how long the Volt last, GM loses over $48,000 making Obama’s car. They should have called it the Dolt!
* Right to Work is about to Pass in Michigan.
* Detroit heavily Unionized and unwilling to change just might go bankrupt as Gov. Snyder is loosing patience and may let them go....
* And GM may finally have to go through a real bankruptcy, not something engineering by Obama that took Contract Law back 800 years.
That is a lot of history in a very short time frame....
I would love to see that happen. Will the bondholders get their money?
GM still owes the American taxpayer millions of dollars. Their stock will never cover the money still owed.
I read an article here on FR a few months ago that said GM was using bailout money to set up 15 (fifteen) mfg. facilities in China!
That’s hardly saving or creating jobs for Americans.
I hope the Judge properly rules and that GM goes into bankruptcy.
Not to worry...obamskyovich says that volt sales will be through the roof...