BlindBoo
Diamond Member
- Sep 28, 2010
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Thats exactly what he did...
Chavez comes to mind..
He had no business doing what he did.
If GM failed then sobeit..... He didn't want that tho because UAW (among other unions) got him elected.
Obama is a fucking tyrant for that alone.
Nope:
Yet the doomsayers were wrong. Unlike, say, Frances President Nicolas Sarkozy, who used public funds to support Renault and Peugeot-Citroën on condition that they did not close factories in France, Mr Obama has been tough from the start. GM had to promise to slim down dramaticallycutting jobs, shuttering factories and shedding brandsto win its lifeline. The firm was forced to declare bankruptcy. Shareholders were wiped out. Top managers were swept aside. Unions did win some special favours: when Chrysler was divided among its creditors, for example, a union health fund did far better than secured bondholders whose claims should have been senior. Congress has put pressure on GM to build new models in America rather than Asia, and to keep open dealerships in certain electoral districts. But by and large Mr Obama has not used his stakes in GM and Chrysler for political ends. On the contrary, his goal has been to restore both firms to health and then get out as quickly as possible. GM is now profitable again and Chrysler, managed by Fiat, is making progress. Taxpayers might even turn a profit when GM is sold.
So was the auto bail-out a success? It is hard to be sure. Had the government not stepped in, GM might have restructured under normal bankruptcy procedures, without putting public money at risk. Many observers think this unlikely, however. Given the panic that gripped private purse-strings last year, it is more likely that GM would have been liquidated, sending a cascade of destruction through the supply chain on which its rivals, too, depended.
General Motors: Government Motors no more | The Economist
I don't fucking care how you philosophize it...
Its wrong...
You may as well try to convince the cop you only stole the car because you didn't have one, therefore its justified..
Its still stealing...
Now, Obama took over a business and it was out of his power to do so..
Anyone who claims what he did was "swell" is a tyrant just like he is...
If you cant obey the Bill of Rights then you're a fucking tyrant, If you cant understand the Bill of Rights you're a fucking idiot.
If you don't understand that it was not a seizure of the company there is nothing to discuss.
Wal-Mu was seized and the it assets sold to another bank.
GM was not seized and sold.