Tag: GM
Mussolini Would be Proud: Obama Ballyhoos the Auto Industry Bailout

See Obama go to Detroit. See Obama put the cost of bailing out GM/Chrysler at $60 billion (underestimate) See Obama claim the “auto industry” created 55,000 jobs after losing 335,000. Poor Obama. He does not see (say) *Ford grew the most and received no bailout (some of those 55,000 jobs are Ford’s). *$1.1 million...
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Confiscation of Bondholder Assets Dooms GM

Much has been made in recent weeks about the fact that the GM bankruptcy agreement moved the government’s claims to GM ahead of bondholders with secured debt. Had GM gone through typical bankruptcy proceedings the bondholders would likely have ended up owning more than half of GM, not the 10 percent they actually got....
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