by Kelly EstesRobin Hood (Pres. Barack) Obama pulled a fast one just the other day.
Chrysler, recently forced into a ‘surgical’ bankruptcy directed by the White House, is watching the screws being put to its creditors and the taxpayers. How?
Dave Cribbin writes:
In the Chrysler deal, the Union fared even better, as they were unsecured creditors and the Chrysler bondholders were secured creditors. The bondholders received 28 percent of the value of their $6.9 billion in bonds in cash; the Union will receive stock worth approximately $4.2 billion, and a note for an additional $4.58 billion, which represents 82 percent of the value of their claim. Either the government negotiators have dyslexia and have made a terrible mistake in their paperwork, or this is political payoff WRIT LARGE. Is this not the equivalent of financial water-boarding?
And thus we enter a brazen new era of government, when the White House is openly complicit in the theft of—as a matter of fact is directing the looting of—private property from investors. Welcome to the Rule of Man, or as the President calls it, change we can believe in! Where campaign contributions mean everything and the rule of law, not so much.
American taxpayers should be frightened. There’s a bandit gang on the loose, robbing investors.
With open thievery going on, and the investing rules of the game being twisted to suit the robber’s needs, Americans have every reason to be outraged.
These are mob tactics, plain and simple. Now, what are we American taxpayers going to do about it?