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Obama Saved the Unions, Not Detroit?

~ The Rebel ~ 2012/06/20 13:07:22
Obama’s opponents, including Mitt Romney, did argue that General Motors and Chrysler should go bankrupt. But what Obama consistently leaves out of the story is that he did, in fact, let GM and Chrysler go bankrupt.

He just did so in a way that violated every fundamental principle of America’s bankruptcy code, undermined the rule of law, and cost taxpayers an extra $26.5 billion.

Bankruptcy expert and George Mason University Law School professor Todd Zywicki and Heritage Foundation labor expert James Sherk exposed the truth this week in their new paper: “Auto Bailout or UAW Bailout? Taxpayer Losses Came from Subsidizing Union Compensation.”

Read More: http://visiontoamerica.org/10457/obama-saved-the-u...

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  • jean 2012/06/20 13:25:31 (edited)
    jean
    +3
    THIS IS WHY DETROIT WON'T WORK - unions or no unions. Yes Obama bailed out the unions at taxpayers expense. He is constantly buying votes with our money.


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  • Ambassador II 2012/06/21 06:40:49 (edited)
    Ambassador II
    Another biased twist of facts to enlighten the ignorant and uninformed. You are becoming very good at this, Rebel.

    Fact is, nearly two million workers (that would encompass about 6 million persons) are employed today in America's auto industry and not drawing unemployment checks and living on food stamps and welfare, all because Obama had courage enough to stare down your RWNJs and the Republicans who wanted the industry to collapse.

    Fact is, nearly all the money LOANED to the industry and secured by options of stock and equity, has been repaid, with a profit to the U.S. Treasury of more than $1Billion. The rest remains secured by the assets pledged.

    Why do you post these distortions, Rebel? What in God's name do you gain by making these biased and harmful allegations that create conflicts and dissension between persons in our society? Are you part of the Saudi Prince's propaganda media intent on destroying
    our portion of the Western cultures? Why, Why do you do this?
  • whitewulf--the unruly mobster 2012/06/20 14:25:41
  • Ambassa... whitewu... 2012/06/21 06:47:57 (edited)
    Ambassador II
    That is what WE have allowed corporatism to do to our population. These apartments once housed workers, families lived there, children played in the adjacent parks. Then, we let the quest for a larger profit, a lesser labor cost, a demand of Wall Street for "better numbers", move the jobs to Brazil and China, maybe just to Alabama or Tennessee. And, we left behind these symbols of much of what is wrong with us today. Picture your children growing up in the unit that still has laundry hanging on the porch. What hope could you give them, what could you tell them of their "opportunities" to rise above these surroundings and achieve their dreams? What could you say to the elderly widow who now lives there?
  • jean 2012/06/20 13:25:31 (edited)
    jean
    +3
    THIS IS WHY DETROIT WON'T WORK - unions or no unions. Yes Obama bailed out the unions at taxpayers expense. He is constantly buying votes with our money.


  • Jane jean 2012/06/20 14:06:15
    Jane
    Seriously, you need to listen to something besides right wing propaganda or do you just like being uninformed??
  • whitewu... Jane 2012/06/20 14:26:31
  • Jane whitewu... 2012/06/20 16:36:23
    Jane
    nice picture
  • jean Jane 2012/06/21 01:17:03 (edited)
    jean
    +1
    Uh - these are democrats at work. What are you talking about?
  • The Govenor 2012/06/20 13:20:00
    The Govenor
    +3
    Is this really news to anybody? We all knew this was the deal BEFORE he cut the BIG check to payback the unions at our expense. Wake up America!!! 0b0z0 is a scam.

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