The president is claiming the GM bailout as a success when anyone who was close to it knows it was and still is NOT a success except to for the folks who got him elected...THE UAW. Furthermore, it was the IMPLIMENTATION of the auto bailout that was so wrong in that they didn't go through a TRUE bankruptcy like the airlines or any other bankrupt corp. Obama's stooge Judge Gonzalez overruled 100 plus years of bankruptcy law and gave the unsecured creditors (UAW) priority over the secured creditors (bondholders,stockholders,auto dealers). In other words, they saved the very thing that brought them down in the first place. Is it any wonder that GM is still struggling and on life support?
The president is claiming the GM bailout as a success when anyone who was close to it knows it was and still is NOT a success except to for the folks who got him elected...THE UAW. Furthermore, it was the IMPLIMENTATION of the auto bailout that was so wrong in that they didn't go through a TRUE bankruptcy like the airlines or any other bankrupt corp. Obama's stooge Judge Gonzalez overruled 100 plus years of bankruptcy law and gave the unsecured creditors (UAW) priority over the secured creditors (bondholders,stockholders,auto dealers). In other words, they saved the very thing that brought them down in the first place. Is it any wonder that GM is still struggling and on life support?
You don't even know the half of it. Since the auto bailout, 70% of all GM products are made OUTSIDE of the U.S
"Our commitment to working in China, with China, for China" --- GM CEO Daniel Ackerson.
"Approval ratings go up and down for various reasons... An example is the high post 911 support for GWB even though he could be said to be responsible for the event." --- Box A Rox '9/11 Truther'
Melania is a bimbo... she is there to look at, not to listen to. --- Box A Rox and his 'War on Women'
The term used was "AUTO INDUSTRY" and according to politifact... it's true!
Quoted Text
We turned to data from the Bureau of Labor Statistics, the federal government’s official source of employment data.
There are two categories relevant to this analysis. One is "motor vehicles and parts manufacturing." Since June 2009, seasonally adjusted employment in this sector has increased by 165,100 jobs.
The second category is "motor vehicle and parts dealers." Over the same period, employment in that sector increased by 84,500.
Add these two figures together and you get 249,600 jobs -- almost exactly a quarter million.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
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