Obama apparently buying GM
With our money we don’t have, of course. Lets get to the juicy shit!
The government’s plans include giving stakes in the new company to GM’s union and bondholders, although the ownership structure of the company is still being negotiated, said the source who is familiar with the company’s plans.
Huh, the unions get a piece. Weird, huh? Despite seeing this coming, I wonder what kind of Commie nonsense runs in Obama’s head when he thinks the workers, whose representative group helped prevent any profitability of GM in the first place, deserve an ownership stake. Its all the workers’, right? AMIRITE?
Next:
In addition, the government would extend a credit line to the new company and forgive the bulk of the $15.4 billion in emergency loans that the U.S. has already provided to GM, the source said.
So basically, we (the taxpayers) are fucked out of the bulk of $15.4B dollars. Not only that, but they can get more loans, under the guise of a line of credit! Is it any wonder that Obama wasn’t a CEO before being President? Something tells me that Transformationally Post-Profit Industries is an inevitability when he’s finished remaking our country.
Just getting warmed up:
The government has given GM until June 1 to restructure its operations to lower its debt burden and employee costs.
How in the hell do you cut employee costs when restructuring the union contract has been avoided at all costs? What is there to cut when everything is itemized, and categorically unworkable? How will they lower the debt burden in the face of new CAFE standards that force them to sell more expensive cars in an effing recession, and under great fiscal duress? Our President has the business sense of a dictator sometimes, in that he just does shit, knowing he’s got the power, regardless of the impact. He wants it that way, damn the consequences to the little people.
I’m on record doubting that Obama will ever relinquish the US gov’t stake in the banks, and I feel similarly about GM. He’s just getting a taste of industrial control, and total control is the cocaine of liberals in power, in my fabulous opinion. I’m not very excited to see where this money is coming from, and I’m afraid I know the answer.
Our taxes are going up, or our debt is going to just keep threatening the future of this nation, and hang over the heads of our children, eventually injuring the country. A while back, Obama, whilst fear-mongering for his stimulus package, said we may never recover from the financial crisis unless we do as he says. Turns out, we may never get out of this crypto-nationalist crisis because of the One.
