…will file for bankruptcy protection on Monday in a deal that will give taxpayers a 60 percent ownership stake and expand the government’s reach into big business.”
Nice euphemism. I think they mean…in a deal that will give the federal government (aka the Obama Administration) a 60 percent ownership stake….
The article later states:
“…a GM bankruptcy would be unprecedented as the federal government would pump billions more into the company, and take a 72.5 percent interest in the automaker.”
And if that’s not scary enough, have you heard of Dealergate? Who is deciding which Chrysler dealerships must be closed…Chrysler? No. The Obama Administration…specifically, his new “Car Czar,” Steven Rattner (husband of Maureen White, former national finance chairman of the Democratic National Committee). Supposedly, or so Chrysler claims, a formula including “sales volume, customer service scores, local market share and average household income in the immediate area,” was used to determine which dealerships would close. Doug Ross exposes here the disturbing facts behind the closings, which make no sense when evaluated according to the above “formula,” but make perfect sense politically. As it turns out, Democrat donors and Obama supporters are seeing their dealerships remain open…and having their competition shut down, while Republican donating owners are being targeted for closure, all despite the success, or lack thereof, of the individual dealerships.
“Using the list of all 789 dealerships to be closed, WND found that owners contributed $450,000 to GOP presidential candidates; $7,970 to Sen. Hillary Clinton; $2,200 to John Edwards and $450 to Barack Obama. For the ‘progressives’ out there, that’s a 1000-to-1 ratio of GOP-to-Obama donations and a 42-to-1 ratio of GOP-to-Democrat donations for closed dealerships.”
I thought the whole point of the government essentially taking over these car companies was to help them become more viable down the road. How is that to be if dealerships in “legal and financial hotwater” are to remain open so that successful dealerships can be closed? Oh, right…this isn’t about making the car industry more viable, it’s about making the Democratic Machine more viable. Now it’s all making sense….