COLLUSIONZ - charged conservatism

Chrysler falls - what is happening?

So how is the Chrysler deal going down?

Obama pushed for a government solution that was comprized of
....8% ownership by the federal governemtn
....20% ownership by Fiat - possible up to 35%
....55% UAW (union auto workers) heath benefit group

The balance was split between the banks and private share holders represented via hedge funds.

The Banks caved in because they are being strangled byGeithner and the Obama Administration. The bank went to the Administrtion and asked for help, Obama smeared them, now that the banks want out Obama is strangling them and smearing them simultaneously. Another theory is that the banks received TARP monies under the table, ie they are not suffering losses, but this would be difficult to prove. Most feel that the banks are running scared.

The hedge fund representatives are being blasted by Obama for being anti solution because they refused to accept 20 cents on the dollar. The hedge fund representatives are not 2 guys - they representative clients that own (used to own) shares in Chrysler. They represent private ownership that just had their portfolios destroyed.

Basically Obama has strong armed the banks into submission and just screwed the hedge fund owners into oblivion and given ownership of Chrysler to the UAW. Along the way he smears the free market banks and free market private interest individuals and groups that used to own Chrysler as being anti something or another.

Air America claims that the big loser is the Unions because the contracts are being erased. There are some job losses and some contract changes but the huge winner is the UAW - just the way Obama wants it. Air America is just outright disgusting and stupid.

Is this what you want - private ownership stripped and taken over by the government? All those in favor lick your liberal lolli-pop.

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