Obama robs taxpayers to bribe UAW in socialist reallocation

[_bcspace]

GM's union recovering after stock sale - Taxpayers and investors not as fortunate as UAW

"Priority one was serving the interests of the UAW" when the White House's auto task force engineered the bankruptcy, said Glenn Reynolds, an analyst at CreditSights. The stock offering served to show once again how the White House has handsomely rewarded its political allies, he said.

..............

"It gives outraged flashbacks to the old GM bondholders," who remain mired in the bankruptcy proceedings and are unlikely to recover more than 30 percent of their investments, Mr. Reynolds said.

He compared the deal to the corrupt crony capitalism in Russia under President Vladimir Putin.

The White House "took a page out of the Putin political asset reallocation and reward system" when it engineered the deal, he said.

Mr. Reynolds also described the White House deal as a combination of "Boss Tweed on steroids" and "Hugo Chavez on meds," as far as the bondholders are concerned.

[_moksha]

How insightful of President Obama to cause this downward spiral of the auto industry before he even took office. But truthfully, this tendency of conservatives to say absolutely any nonsense they can think of as a mud slinging effort tends to help rot the very fibre of decency in this country.