UAW and Obama Motors will own GM and Chrysler. Its not rocket science to see that our govt cannot run anything and that the UAW has been sucking the life out of the Big 3 forever.
I like how Obama blasts hedge funds as Chrysler files for bankruptcy for simply trying to collect as much money possible for their shareholders from the loans. Apparently it is wrong somehow to collect what you are owed. The investors are going to be soaked not once but twice as they get back very little of their investment and then see their tax dollars wasted to support the automakers.
Can't wait to see who GM and Chrysler borrow from next after this move. UAW better enjoy the govt tit while they can because I think the next President will no longer deem them too big to fail.
Another update
1 year ago
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