OK some more recap on the Chrysler failure after years of currency manipulation from imports and their companies, double cafe smog standards, double safety standards, double fuel standards and higher corporate tax rates than their counter parts have to deal with, and yes then there is the union aspect to that they have to pay out to and into that the competition does not! .
And here is one more take, if the Gov. Congress + President really gave a damm, why did they not cut corporate taxes rates, give deep tax credit for new car sales etc. to help the bottom line during hard times that were all coming to a head?
BUT know, they still were hamming the company's with CAFE standards, High tax rates, workers comp, health insurance, Unions etc., EPA excess regulations only applying to domestic owned companies.
I have been telling people about this for years, everyone blows you off then when it happens they blame someone else. I have mentioned it many times before, I smogged cars in CAL. and the imports made 3-5 times more pollution than USA cars and that was the standard.
Also not that I am in the pocket of the hedge fund folks.
But letÂ’s say you lent me for small numbers sake $100,000. You would not only want the 100k back but interest on top right? I mean you could have taken you 100K and invested it somewhere else, but nope the presi-dunce wants you to get less than .50 cents on the dollar and yet give the unions 55% of the company. Now tell me how the heck that math works? What he is not telling you is that if the hedge funs AKA banks, gave in on the money it comes out of TARP, then they are subject to CEO take over just like GM, Citi, AIG and the likes. It does not get any more socialist than this!
And for any of you that think this does not affect you, I bet you have an IRA, 401k, ROTH etc, many of the companies in the portfolio are the companies that just got screwed.
And to add one more layer to it, you now get the honor of having your tax dollars go to the chapter 11 efforts. And when all is said and done, the company still does not own it's own self.
Yeah I would sign up for that not! And this is the same presi-dunce that forced citi bank when he was a lawyer, was the lead attorney on the case and accused them of red lining and forced them to take on loans of people with extreme high credit risk. Then when they failed because people did not pay the money back, he blames them for giving the loans to the people he sued them to loan too.
Nice, and smucks voted for this??? Simply awesome!
yes we get what we deserve, but I did not vote for this screw job.