by Smitty
The idea of the bailout was false to begin with. Go to this site and Tweet/FB/email it to the universe.
We don’t want the administration to think that all of the attention on Solyndra and Fast & Fumbled means that people are distracted from the bailouts and ObamaCare.
More at the Tatler and Director Blue.
Done.
And this is why I won’t be buying Government Motor cars.
The taxpayers have been taken to the cleaners on this – remember when the new GM Obama-approved CEO was going to have a huge rollout about repaying some of the government money, but it leaked that they were just getting the cash from another government program? – but it was less of a bailout than a theft. The unions got bailed out, Chrysler and GM avoided subjecting their contracts to the scrutiny of a bankruptcy court, but everyone else got screwed.
The bondholders who should have had first call on any revenues or assets, the dealers who had worked with the auto companies for decades and even generations, the people awarded lawsuit verdicts against GM and Chrysler who hadn’t been paid yet, the retirees whose pensions weren’t part of union contracts, and the taxpayers all took it hard in the wallet.