I was so incenced by this that I immediately went out and traded this:
for this:
Posted on 11/25/2010 8:13:01 PM PST by Nachum
General Motors Co.'s recent stock offering was staged to start paying back the government for its $50 billion bailout, but one group made out much better than the taxpayers or other investors: the company's union.
Thanks to a generous share of GM stock obtained in the company's 2009 bankruptcy settlement, the United Auto Workers is well on its way to recouping the billions of dollars GM owed it — putting it far ahead of taxpayers who have recouped only about 30 percent of their investment and further still ahead of investors in the old GM who have received nothing.
The boon for the union fits the pattern established when the White House pushed GM into bankruptcy and steered it through the courts in a way that consistently put the interests of the union ahead of many suppliers, dealers and investors — stakeholders that ordinarily would have fared as well or better under the bankruptcy laws.
(Excerpt) Read more at washingtontimes.com ...
The list, ping
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What an obscenity.
Hussein completely turned bankruptcy law on its head. It was always bond holders had first claim in a bankruptcy, followed by preferred shareholders then common stock. I’ll never forget 0bama chastising the bond holders for refusing to take 20¢ on the dollar. What a dangerous precedent.
This country is ripe for the taking by anybody on the left who has the nerve to take it. Now on the right if someone tried it the media would scream and the wackos would flood the streets.
I was so incenced by this that I immediately went out and traded this:
for this:
A retired friend of mine had GM bonds. Obama wants people to think that only “fat cats” got burned. Not individual retired people.
Obama doesn’t really care who gets hurt.
The GM unions must have something on Obama....like some gay photos. They live a charmed life.
Disgusting on so many levels.
(Good to see you, Jeff Head. Another reason to be thankful.)
“investors in the old GM who have received nothing.”
An obscenity, that should have never happened. The taking of private property and giving to others...Communism (O-ism) at its best.
That should about sink the f#@kers.
Don’t forget your Calvin peeing on a Chevy
please add me, thanks
--------------------------
The White House is busy right now printing “fill in the blank” presidential pardons for when all the thousands of arbitrary “executive privilege” refusals to cooperate get overturned by the courts.
The investigations by the new congress of the blindingly blatant criminal and unconstitutional acts the Obama/Pelosi/Reid regime committed the last two years will,of course,be shrugged off by the Left and their MSM as “politically motivated,” but it will cause them to get whomped even more in 2012.
Executive privilege and presidential pardons will be the most overused government acts of 2011.
With Barry's pardon in “President” Bite-me’s pocket should Obama finally encounter justice.
Good for you! I respect that trade.
The unions are stagnant and GM is limping. After all of this blow hard government cash GM is still stuck at square one. Nothing has changed.
Anyone who paid attention to what Obama said during the campaign shouldn’t be surprised.
He blatantly said he would ‘return the wealth to those who created it’ like a good member of any Workers Party.
This is another example of the misallocation of resources that is causing this downward spiral.
“The GM unions must have something on Obama....like some gay photos. They live a charmed life.”
Unions were created by Russian Communist moles to promote Marxism in the United States.
You’re added :)
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