General Motors Again Ripping Off Americans: Warranties Edition
Let us begin with the $50 billion ‘We the People’ were forced to “invest” in General Motors – including a $30 billion Barack Obama bump so as to give his Administration greater sway in how things would subsequently go down.
We were originally told – by Obama himself – that we would make money on the bailout. Now we’re told we’ll lose somewhere between $11 and $14 billion (and given the stock price’s long, slow slide, maybe even more).
And about which we were lied to by the Administration. Which said this titanic loss of coin is less than they were expecting – just seven months after Obama his own self said we’d turn a profit.
Then there was the 2009 GM bankruptcy filing (which we were told our $50 billion would forestall – oops).
Through which the Obama Administration’s new toy car company eviscerated existing law to benefit their union, campaign-funding cronies at the illegal expense of GM bond holders – who should have by law received preferred treatment.
And now… the rest of the story. …..
Harold
