thelinuxlink.net

...yeah right...

http://www.gregpalast.com/grand-theft-a ... rupted-gm/

While GM workers are losing their retirement health benefits, their jobs, their life savings; while shareholders are getting zilch and many creditors getting hosed, a few privileged GM lenders – led by Morgan and Citibank – expect to get back 100% of their loans to GM, a stunning $6 billion.

The way these banks are getting their $6 billion bonanza is stone cold illegal.

Here's the scheme: Rattner is demanding the bankruptcy court simply wipe away the money GM owes workers for their retirement health insurance. Cash in the insurance fund would be replaced by GM stock. The percentage may be 17% of GM's stock - or 25%. Whatever, 17% or 25% is worth, well ... just try paying for your dialysis with 50 shares of bankrupt auto stock.

Yet Citibank and Morgan, says Rattner, should get their whole enchilada - $6 billion right now and in cash - from a company that can't pay for auto parts or worker eye exams.

Filching GM's pension assets doesn't become legal because the cash due the fund is replaced with GM stock. Congress saw through that switch-a-roo by requiring that companies, as fiduciaries, must

"...act prudently and must diversify the plan's investments in order to minimize the risk of large losses."

By "diversify" for safety, the law does not mean put 100% of worker funds into a single busted company's stock.

Obama is also a liar when it comes to his stance on Single Payer Health Care. In 2003 he said he supported Single Payer, but it would have to wait until the Dems won the Whitehouse, the House, and the Senate. Well the Dems now controll all three, and what do you know, Obama no longer supports Single Payer.

Obama on Single Payer in 2003 http://www.youtube.com/watch?v=fpAyan1fXCE

Obama on Single Payer now http://www.youtube.com/watch?v=Q6d45duX_WU

I voted for Obama. I was fooled. This guy is a piece of shit. Maybe not as big a piece as Bush or McCain, but a big steaming pile nonetheless.

The president is know for having BO as his moniker.

How could anyone trust anyone who came up the Chicago political machine. If McCain had won, someone would have ofted him so the us could have the first women president.

What really bugs me is the Chinese are getting GM pieces for free and then they will use it back against us by displacing American workers. I think we should give China some of their own medicine and at least think about how to detain all the Chinese and their properties in America and then hold them up forto pay for their special 100% Chinese tax. It is a shame that China seems to have forgotten who saved them during wwwii.

Obama is of his father, the father of lies. He says all sorts of things, then does something else. Don't be fooled though, all of these politicians back the people that give them money. I don't think you can rise to this level of politics unless you've proven yourself to follow through in supporting their interests. Otherwise they'll tear you down before you get there.

Look at Sarah Palin who was thrust into the major leagues, boy have they been working hard to tear her down. Think what you like about her religion and political views, but she is a woman of integrity actually trying to do what is right by her beliefs. They don't want that in Washington DC.

About all you really get to vote on is fringe things like abortion. If you value the sanctity of human life you vote for Pro-Life candidates, or if you support godlessness and the culture of murder you support pro-abortion candidates. In the end all this really controls is the distribution of our tax money to support abortion at home and around the world. Obama is using our tax dollars to support abortion, and they're looking to support more spending abroad to make abortion an option in countries where it is restricted. And they have plans to fund abortions here in our country as well passing legislation to remove state restrictions. The thing that is often overlooked is that abortion is a billion dollar industry in our country. A coworker of my wife actually had a doctor lie to her about the condition of her daughter to get her to have an abortion. Luckily for her the nurse told her the truth, and now her daughter is a healthy teenager. It's fairly common for doctors to do ultrasounds and think a baby is dead, but then given more time the baby is alive and healthy but was almost aborted. But even our votes impact on this issue is limited in scope as there is no real desire in this country to reform our culture of death.

Well, until we take the money out of the political process, we'll never have a good system.

Bugz