Chauncey Gardner on steroids
I have written before of brave Sir Barry’s struggle to do the right thing…for the unions that own him, I mean. They are certainly getting their money’s worth. Whilst still enjoying somewhat of a honeymoon, Barry has been most determined in exercising his agenda. So far, he has nationalized many banks and two major car companies. He knows he must move fast before he is found out. At the moment he can push through any momentous change, as he will soon do with health-care and immigration, by insisting that these dire methods have been reluctantly forced upon him by the evil Bush and Cheney. By the time the public figures out that he is not getting results, it will be a fait accompli. And a fate worse than death, for us.
He has taken the very unusual step of demonizing those investors and bond holders who had the nerve to expect a return of their so-called investment. He has bullied them into accepting around 28c on the dollar, when a bankruptcy judge may have been more favorable, while at the same time gifting more than half of Chrysler to the UAW. They also threatened to sic the White House Press Corp on any one who did not play ball. What the Heck? Jake Tapper, who seems to be on a lone quest for truth in government and does excellent reporting has the story, which the WH is denying,
A leading bankruptcy attorney representing hedge funds and money managers told ABC News Saturday that Steve Rattner, the leader of the Obama administration’s Auto Industry Task Force, threatened one of the firms, an investment bank, that if it continued to oppose the administration’s Chrysler bankruptcy plan, the White House would use the White House press corps to destroy its reputation.
Yeah, the same Rattner being investigated in a pay for play pension scheme racket. Obambi likes to portray the people who loaned money as “speculators” in order to garner sympathy. But the truth is, that they are us, as the lawyer stated his clients,
 ”are mainly fiduciaries for pension plans, college endowments, retirement plans and credit unions who invested in low yield supposedly very secure first lien debt” with Chrysler.
Read the whole thing. It’s a disgrace.  Don Surber has this to say,
In short, Obama wants companies to eat nearly $5 billion so that he can give away Chrysler to protect union jobs.
The unions that backed him. This is their payoff.
If true, this is the biggest corruption scam in American history.
When I woke up on this beautifully sunny, Arizona morning, I decided to go for a spin through the lanes in my British Leyland car. Then I remembered. There is no British auto industry any more, except for cottage industry Morgan. The unions ran them into the ground long ago, despite the government’s best efforts to subsidize them. Which is exactly what will happen here in the USA. The UAW head Ron Gettelfinger has played an active part in the destruction of the American auto industry for years. His reward? Seats on the board of two of the doomed companies.
The always enjoyable Mark Steyn has a piece on President Obama’s “achievements” thus far, including the clever way he manipulates into thinking he is pensive, while he ruthlessly carries out his mission to re-make America.  He also makes mention of the way that union leaders were household names in the UK in the 70’s, mostly as symbols of the sheer bloody-mindedness of their never ending strikes and stoppages. Coming to a town near you, real soon.
Megan McArdle has more, including a lively comment section.
Michelle Malkin weighs in.
It seems that Lawyer Tom Lauria has decided to fight back. Good For him. Hot Air has that story.
May 2, 2009
Tags: Mark Steyn, Ron Gettelfinger Posted in: Bailout, Barack Obama
4 Responses
Excellent Blog. I’ve been reading along and just wanted to say hi. I will be reading more of your posts in the future.
- Jason.
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