[...] Cronyism: In recent days, the scope of the Obama White House's cronyism has become shockingly apparent. A trove of emails shows it deprived thousands of workers of their pensions to benefit unions, then lied about it.
The news site The Daily Caller has obtained internal government emails that show the U.S. Treasury Department, led by Timothy Geithner, pushed in 2009 to end the pensions of 20,000 non-union employees of GM's Delphi auto parts unit as part of the auto bailout.
What's truly outrageous is that, while those workers were cheated of their full pensions, union employees of the same Delphi company got their pensions paid.
This financially ruinous favoritism of union workers over nonunion workers is blatantly unfair, illegal and a violation of Constitutional guarantees of equal treatment under the law. And the reason is political. [...]
Read the full report here at Investors Business Daily
General Motors, by most estimates, still owes the U.S. government between $30-$40 billion dollars from it's acceptance of TARP bailout funds, not that GM had a lot of choice in the matter. The last CBO report indicated that the likelihood of GM repaying the debt are slim to none and Slim is out of town, so that leaves no chance of GM ever repaying the entire debt. This means that taxpayers are taking it in the shorts for Obama's bailout. GM should have gone through a Chapter 11 bankruptcy reorganization, selling off losing properties and thus being able to keep its core business still intact, while getting rid of the burden of the crushing UAW labor contracts, which would have been renegotiated with far more favorable terms for GM going forward.
The bottom line to this entire sordid, sleazy and undoubtedly corrupt program is that once government gets its tentacles into a private enterprise, that enterprise is pretty much a part of government forevermore.
To this day I believe that the entire first year was carefully planned, using not only GM's "problems" but Wall street as well, to ensnare our country and put it on the path of Socialism. Everyone had their positions and jobs and they were waiting in the wings for the grand entrance.
ReplyDeleteI also believe that they were not quite ready for some of our early reactions to their plans as they unfolded.
The big trick now is how to rid ourselves, and fumigate our country, of the people who would destroy us.
Congrats to the person who got wind of the emails. You have to wonder who is the source is.
What happened to my comment?
ReplyDelete