Wednesday, May 23, 2012

Obama's Vulture Socialism

When Obama had the government takeover General Motors he shutdown more 2000 dealerships across the country under the guise of cutting expenses. 220 of those dealers, representing thousands of workers, are fighting the federal government over the issue:

Two claims, initially filed in October 2010 and February 2011, cleared the government's motions to dismiss in February and are now heading into the pre-trial discovery phase. The dealers' lawyers are seeking government documents that they hope will show that auto makers had to eliminate some dealerships as a condition of receiving funds from the government's Troubled Asset Relief Program.
The cases are believed to be the first to test the constitutionality of the federal government's $80 billion bailout of the auto industry under the Bush and Obama administrations.


Anonymous said...

How many jobs would have been lost without the bailout? He's not a socialist. He's a pragmatic moderate.

James said...

You can't prove a negative, so nice try. If you ask experts, at most it would have been the same, in reality less. Going through bankruptcy, without the bailout, would have allowed for restructuring. Instead, we got the bailout and GM still failed and had to go through bankruptcy before it was able to turn around... if you can even call it a turn around.