Another example of Obama’s redistribution of wealth

Once again, the rich and middle-class taxpayer reach into our pockets so Obama can pay back the unions for getting him elected.

Thanks to a generous share of GM stock obtained in the company’s 2009 bankruptcy settlement, the United Auto Workers is well on its way to recouping the billions of dollars GM owed it — putting it far ahead of taxpayers who have recouped only about 30 percent of their investment and further still ahead of investors in the old GM who have received nothing.

It is easy to use the system to one’s own advantage with the corrupt are running the system.

The boon for the union fits the pattern established when the White House pushed GM into bankruptcy and steered it through the courts in a way that consistently put the interests of the union ahead of many suppliers, dealers and investors — stakeholders that ordinarily would have fared as well or better under the bankruptcy laws.

 

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One response to “Another example of Obama’s redistribution of wealth

  1. Dear Obama, get off of your high horse. People are scared and the world has never seemed more precarious. They want you to cut the crap and fight for jobs and real change
    http://sherrytalksback.wordpress.com/2010/11/29/dear-obama-letter-from-louisiana/

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