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Paul Krugman, what a Moroon..
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May 10, 2019 17:33:45   #
dennis2146 Loc: Eastern Idaho
 
pendennis wrote:
Not so fast. The auto industry would likely have survived just fine without Obama's "help". He took actions that were, and still are, illegal; such as bypassing U.S. bankruptcy law. GM and Chrysler would have done just as well going through Chapter 11, and allowing for the legal system to play out.

His meddling cost the pensions of hundreds of thousands of both Delphi employees, and those pension funds which had invested in GM bonds. Delphi employees lost their entire pension fund, and then weren't allowed to go to the Pension Benefit Guarantee Corporation. GM bondholders, both individual and investment house lost every dime.
Not so fast. The auto industry would likely have ... (show quote)


Thank you for putting it so well. Obama took the step of making his Presidency the very first where the government took property from shareholders and owners and literally gave it to the union. When I heard that my mind was totally in shock, thinking WTF is going on here. America has bankruptcy laws, other and more widely used avenues to treat these situations that is frankly not the government's business. Yet Obama gave private property to the union. To this day I refuse to buy products from Government Motors.

And the F'd up liberals call Trump a dictator. Not after Obama worked his Socialistic Magic on America. Trump could not even come close.

Dennis

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