Our Kenyan-Indonesian Anti-American President announces bankruptcy filing of a private company he invested with billions of dollars in our hard earned tax payer money.
He blamed some small hold out of investors / creditors for not agreeing to his plan of selling out this private company to its workers who happened to be part of UAW union that helped him get elected. He used the office of presidency to intimidate bondholders of this company to give up their claims; tried to influence the bankruptcy judge to agree to government's scheme and finalize bankruptcy within 30-60 days. The scheme that pays back to a union by giving majority ownership of a company they helped destroy. The scheme that gives 20%-35% of an American private company to an Italian for free so this italian company bring supposedly "green" tiny cars that are designed for tiny Italian roads to the U.S. to make delusional enviro-marxists happy.
Our president also pledged another $8,000,000,000 of our hard earned tax dollars to this now bankrupt company. This guy is making the crappiest investments with our money. Keep in mind folks, there is no discussion of the factors that brought Chrysler LLC to its current sad shape. Chrysler LLC makes small cars it can't sell. The only reason it is making these cars its customers do not want is to satisfy a government regulation that is there to satisfy enviro-marxists. A car company like Chrysler LLC that has a competitive advantage in designing, building and selling Sport Utility Vehicles, Minivans and Trucks is not allowed to capitalize on its competitive advantage. It is forced by the government to make cars it loses money designing, building. Government not only forced this company to make cars it can't sell, but also intimidated into giving into the demands of its union. I don't mind if you want to add other factors like management incompetency or general economical conditions. My point is that none of these factors are discussed and this whole think is not about sound business decisions. It is all about political expediency of a radical president who is using tax-payer money to reward his constituency. He is giving 55% of a private company to the union that helped him get elected. He is giving 35% of an American company to a foreign company so the environmentalists will be pleased to see itsy bitsy foreign cars are being sold here in the United States.
This same president is also committed $8 billion of our money for his grand experience in running a company based on political decisions. What happens when things don't go as planned by the supreme ego of Barack Hussein Obama? What happens if the bankruptcy judge sticks to the rule of law and ignores the orders of a tyrant in the White House and takes all the time to sort this thing out in a fair way? What happens when Americans refuse to buy these itsy bitsy Italian cars? How will we get our money back? Are we going to be forced into buying what government backed car companies produce? Will we be not only out of our money but also out of our freedoms?