The $82 billion auto bailout has been a Crony Socialist nightmare mess. We’re going to lose at least $30 billion on the deal. And that’s only if the Barack Obama Administration’s math can be trusted - a dicey proposition at best.
The Administration eviscerated two hundred-plus years of bankruptcy law, throwing bond holders over the side to over-reward their United Auto Workers shock force buddies.
General Motors (GM) is cutting undisclosed deals with executives’ wives businesses.And on, and on, and on....Haven’t heard most or all of this? Not surprising - the Jurassic Press ain’t reporting it.