Auto Bailouts

Misnomer
Are you aware that now 53% of Americans actually think that the auto "bailouts" were good for the country. Only 36 % believe that they were bad. The word "bailout" is in quotes because they weren't bailouts. No, they were government take-overs. When Bush was in office, he granted LOANS to the failing two car companies (General Motors and Chrysler). When Obama took office, he stepped-in and took over the bankruptcy rules with HIS own version of them. His version favored the unions.

Under Obama's bankruptcy rules, stockholders only received 10 cents on the dollar. Instead of dissolving union contracts, he literally gave the AFL-CIO 1/3 ownership of GM and they paid nothing for it. Obama also preserved all union worker pensions while at the same time destroyed all non-union pension programs. This destroyed over 10,000 person's pensions. As for Chrysler, they were sold to Fiat and of course they never paid-back their loans to us.

Ownership
General Motors (alias Government Motors) is actually 60% owned by the federal government as a result of Obama's bankruptcy manuevers. In other words, we (the USA) own GM. Using proper nomenclature - this is what is referred to as "Nationalizing" the automobile industry (or at least 2/3 of it because Ford stayed away from the takeover).

After The Propaganda Blitz
Good news for the Democratic Party. Their media blitz of falsehoods worked and now Americans have been duped into believing that these takeovers were good for America. Hello, the government CONTROLS the auto industry. This is what happens in COMMUNIST countries. How is that good for America?

What They Don't Tell You
The DNC convention failed to tell you that the Chevy Volt is loosing in the market. So what does Obama do? He directed the Pentagon to by 1,500 Volts and all other government departments to only buy GM products. Why? GM's stock has dropped over 45% since Obama took them over. Volt sales are way down because they loose $49,000 for every Volt they manufacture. They have halted production 3 times because no one is buying them. In other words, Obama is propping-up GM and the Chevy Volt is a failure.

This is ANOTHER OBAMA SCANDAL. He's throwing taxpayer dollars at a $40,000 car that only goes 35 miles before it needs re-charging!

Wake up and see the REAL story America.