His face alone tells me all I need to know about this soft handed fool.
Posted on 08/02/2010 9:07:10 AM PDT by Nachum
Who could have imagined that the bailout of the auto industry, one of the single most unpopular moves by the Obama administration, would become one of its best talking points?
But don't for an instant imagine that the comeback of the nation's rescued car companies, particularly General Motors, will change the way we debate government's role in the economy. When it comes to almost anything the government does, ideology trumps facts, slogans trump reality, and loaded words ("socialism") trump data.
Let there be no mistake: Rescuing GM and Chrysler took political courage, and I want to put in a good word not only for President Obama but also for George W. Bush.
True, Bush's electoral career was over in December 2008 when he extended $17.4 billion of Troubled Assets Relief Program money to keep the companies alive long enough to give Obama a chance to act. Still, it took guts for Bush to decide not to "leave the next president to confront the demise of a major American industry in his first days of office." Yet it was Obama who put in the bulk of the cash -- in all, Bush's input had grown to $25 billion before he left office, while Obama put up an additional $60 billion -- and created the tough restructuring plan.
(Excerpt) Read more at washingtonpost.com ...
How did the last car company bailout work for a car company? Look up the Henry J by Kaiser - Frazer or also known as the Red Car. After a loan in 1950 from the government it was agreed to build this car the government way. Priced at under 1,300 (1,299) it did not have luxuries like a glove box, trunk lid, or passenger sun visors. Thanks to government intervention that is why today there are so many models of Kaiser-Frazer available today.
Yes, making union retirees comfy is the goal of business and taxpayer bailouts...Dionne is another Lefty maggot who spews the ‘Bammy lie-vomit.
Quantifying just how much taxpayer money will have been wasted on the hastily developed Volt is no easy feat.
Start with the $50 billion bailout (without which none of this would have been necessary), add $240 million in
Energy Department grants doled out to G.M. last summer, $150 million in federal money to the Volt’s Korean
battery supplier, up to $1.5 billion in tax breaks for purchasers and other consumer incentives, and some
significant portion of the $14 billion loan G.M. got in 2008 for “retooling” its plants, and you’ve got some idea
of how much taxpayer cash is built into every Volt.
American Thinker 8-1-2010
STOP SPENDING FOOLS!!!!!!!!!!!1
Another point that needs to be emphasized. Any pension trustee that invests in a company with a large union labor force needs to be sued for the shirt off his/her back for gross negligence. They are on notice that their investment can be expropriated without compensation at any moment and there's nothing they can do about it.
What follows is an e-mail that I received this morning.
Interesting reading
:”You can fool some of the people all of the time, and all of the people some of the time. But not ALL of the people, ALL of the time”
Sooner or later it will all come to light!
Chrysler’s Railroad
This could be a scandal of epic proportions and one that makes Nixon’s
Watergate or Clinton ‘s Monica Lewinsky affair pale by comparison. Why
was there neither rhyme nor reason as to which dealerships of the Chrysler
Corporation were to be closed?
Roll the clock back to the weeks just before Chrysler declared bankruptcy. Chrysler,
like GM, was in dire financial straits and federal government “graciously” offered
to “buy the company” and keep them out of bankruptcy and “save jobs.”
Chrysler was, in the words of Obama and his administration,
“Too big to fail,” same story with GM.
The feds organized their “Automotive Task Force” to fix Chrysler and GM. Obama,
in an act that is 100% unconstitutional, appointed a guy named Steve Rattner
to be the White House’s official Car Czar - literally, that’s what his title is.
Rattner is the liaison between Obama, Chrysler, and GM.
Initially, the national media reported that Chrysler ‘had made this list of dealerships’.
Not true!
The Washington Examiner, Newsmax, Fox New and a host of other news agencies
discovered that the list of dealerships was put together by the “Automotive Task
Force” headed by no one other than Mr. Steve Rattner.
Now the plot thickens.
Remember earlier we said that there was neither rhyme nor reason why certain
dealerships were closed?
Actually there’s a very interesting pattern as to who was closed down. Again,
on May 27, 2009, The Washington Examiner and Newsmax exposed the connection.
Amazingly, of the 789 dealerships closed by the federal government, 788
had donated money, exclusively to Republican political causes, while contributing
nothing to Democratic political causes. The only “Democratic” dealership on the
list was found to have donated $7,700 to Hillary’s campaign, and a bit over $2,000 to
John Edwards. This same dealership, reportedly, also gave $200.00 to Obama’s campaign.
Does that seem a little odd to you?
Steve Rattner is the guy who put the list together. Well, he happens to
be married to a Maureen White.
Maureen happens to be the former national finance chairman of the Democratic
National Committee. As such, she has access to campaign donation records from
everyone in the nation- Republican or Democrat. But of course, this is
just a wacky “coincidence,” we’re certain.
Then comes another really wacky “coincidence.”
On that list of dealerships
being closed down, a weird thing happened in Arkansas , North Louisiana , and
Southern Missouri. It seems that Bill Clinton’s former White House Chief
of Staff, Mack McClarty, owns a chain of dealership in that region, partnered
with a fellow by the name of Robert Johnson.
Johnson happens to be founder of Black Entertainment Television and
was a huge Obama supporter and financier.
These guys own a half dozen Chrysler stores under the company title of
RLJ-McClarty-Landers. Interestingly, none of their dealerships
were ordered closed - not one!
While all of their competing Chrysler/Dodge and Jeep dealership were!
Eight dealerships located near the dealerships owned by McClarty and Johnson
were ordered shut down.
Thus by pure luck, these two major Obama supporters now have virtual
monopoly on Chrysler sales in their zone. Isn’t that amazing?
Go look in The Washington Examiner, the story’s there, and it’s in a dozen
or so other web-based news organizations; this isn’t being made up.
Now if you thought Chrysler was owned by Fiat, you are mistaken. Under
the federal court ruling, 65% of Chrysler is now owned by the federal
government and the United Auto Workers union!
Fiat owns 20%.
The other 15% is still privately owned and presumably will be traded
on the stock market. Obama smiles and says he doesn’t want to run the auto industry.
As horrifying as this is to comprehend, and being as how this used to
be the United States of America , it would appear that the president has the
power to destroy private businesses and eliminate upwards of 100,000 jobs
just because they don’t agree with his political agenda.
This is Nazi Germany stuff, and it’s happening right here, right now, in our back yard.
There are voices in Washington demanding an explanation, but the “Automotive
Task Force” has released no information to the public or to any of the senators
Demanding answers for what has been done.
Keep your ear to the ground for more on this story. If you’ve ever wanted to
make a difference about anything in your life, get on the phone to your
national senator or representative in the House and demand an investigation into this.
Benjamin Franklin had it right when he said, “All that’s necessary for evil to triumph
is for good men to do nothing.”
Car Czar No More
An amazing thing happened as this story was going to press. Obama’s Car Czar,
Steve Rattner, resigned on July 13 and was promptly replaced by former
steel workers union boss Ron Bloom.
According to CBS News, Rattner left “to return to private life and
spend time with his family.”
Treasury Secretary Tim Geithner said, “I hope that he takes another opportunity
to bring his unique skills to government service in the future.”
By the way, Rattner is under investigation for a multi-million dollar
pay-to-play investment bank scandal in New York .... Uh-oh!
But, we’re certain that had nothing to do with his resignation.
And, according to several news sources out there, there are rumors he’s being
investigated for what could be pay-to-play scandal involving the closing of
Chrysler and GM dealerships. Really? Again, that couldn’t have anything
to with his resignation-that’s ridiculous! Like CBS said, this guy just
wants to “spend more quality time with his family.”
Obama has 32 personally appointed “czars” who answer to no one but
him, all of whom are acting without any Constitutional authority but paid by YOU the tax payer.
But hey, we’re sure they all have “unique skills,”......as Tim Geithner likes to say!
SOOOOO. HOW’S THE CHANGE WORKING FOR YOU?..
Check it out at the following websites.....
http://gatewaypundit.blogspot..com/2009/05/hope-change-car-czar-behind-chrysler.html
http://www.washingtonexaminer.com/politics/Obamas-auto-policy-All-in-the-Democratic-family-44414452.html
This goes beyond corruption in
high places - to gross criminal actions on the part of our government!
I hope you will spread this far and wide, and hopefully the taxpaying
public will demand some of that transparency we were
promised......followed by criminal prosecution of the perpetrators!
What a crooked government we have!!!!! Vote ‘em all out...November, 2010!
Please, do not post commie propaganda on FR.
the auto industry would have survived regardless. what the obama administration saved was the UAW.
Sure it “works” ... if you give me a few million, I’ll stop working and THAT WILL WORK too (at least for me!).
Not a joke,- but I really do consider not posting their lies here. However, I learn so much from the posters on a thread like this that it is instructional. Yes, it makes one upset, or mad to read the lies, but hearing our response to them is more than helpful.
The "rescue"/bailout of GM and Chrysler only DELAYED the bankruptcy filings of both. The subsequent government takeover and interference with the bankruptcy process screwed a bunch of teachers out of substantial portions of their retirement funds, and screwed a bunch of other investors (along with the taxpayers) out of funds, and ultimately left both of these companies probably in worse condition than they would have been had the bankruptcy reorganizations been allowed to naturally play out according to the rule of law.
Mr. Dionne:
Your analysis is highly embarrassing.
Yes, this worked — if you are a fan of fascist payola and business based purely on political fealty and payoffs: http://www.freerepublic.com/focus/f-news/2258280/posts (Anti-Obama campaign contributions dictate which Chrysler dealers were shuttered?)
Hey, WaPo, Ford lives and makes a profit, GM and Chrysler don’t. Ford did it without a bail out, GM and Chrysler are still sucking on the government teat and in fact their original creditors got screwed by Bozo and his minions. So, no, the bail out didn’t work, GM and Chrysler are still struggling and they should have been allowed to go bank rupt. Not only was the take over unconstitutional but it did NOT save them. They are still hurting and making junk assed Government golf carts to boot.
Volt is a diseaster. Problem with politicians and techies is they tend to forget something call logistics. There is not enough lithium mines to provide the lithium for lithium ion battery factories to produce enough lithium ion rechargeable batteries to support more than 40,000 vehicles a year. Don’t even try to think 1 million vehicles. So how are we going to mass produce these vehicles to bring the unit price down??!!! Most of these lithium mines are owned by China or some unstable third world country in South America and Africa. We are back to square one where a key component to making our cars run is dependent on another overseas nation for fuel.
Most car companies are in the business of selling cars, but GM is different.
They didn’t bail out GM, they bailed out the Unions.
Pardon me while I scrape the Dionne off my shoe.
His face alone tells me all I need to know about this soft handed fool.
Yeah, like slapping a piece of ductape over a hole in the gas tank 'worked'.
Flippin' moron.
It was the institutional bondholders who let this happen. Obama and crew gave the biggest holders an ultimatum and they caved, agreeing to the settlement that stripped them of their right to first claim. All the little guys were lumped in with them and got screwed, as well. However, I’m sure the Obama goobermint had plans to “settle-up” with the big guys, leaving the little guys in the lurch.
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