Comments on: Statement From Screwed GM Bondholders

By: DoctorRock

DoctorRock — Wed, 29 Apr 2009 05:13:23 +0000

I got that right her for you, Jack!
“A well regulated militia being necessary to the security of a free State, the right of the People to keep and bear arms shall not be infringed.”
Our ORGANIZED military is pretty busy right now, God bless ‘em, and are obligated to pretty much do as our government sees fit. That’s why our Founding Fathers made a point of enumerating our right of resistance.
You could say “WE’RE THE MILITIA WE’VE BEEN WAITING FOR”, but that’s a little cheeky.

By: eucher

eucher — Wed, 29 Apr 2009 01:57:14 +0000

Why not? Our President made it known he wants to spread your wealth around. Not his own, mind you, but definitely yours.

Rush called this last December. Today he said, “What has just happened is that Don Obama has made Don Corleone look like Daffy Duck. Don Corleone was nothing compared to Don Obama. You want to talk loan sharking? Let me tell you how this loan sharking worked. Bondholders, people who purchased General Motors bonds, did so to the tune of $27 billion. Big government, Don Obama put up $15 billion, just a tad less than that. So basically the private sector bondholders put up almost twice as much money to save General Motors as Don Obama did. And at the end of the day, Don Obama gets 50% of the company, and the bondholders get 10% of the company. The bondholders put up twice as much as Don Obama, and Don Obama gets half the company; the bondholders get 10%.”

He also said “The government is about to take over GM in a plan that completely screws private bondholders and favors the unions. Get this: The GM bondholders own $27 billion and they’re getting 10 percent of the common stock in an expected exchange.

“And the UAW owns $10 billion of the bonds and they’re getting 40 percent of the stock. Huh? Did I miss something here? And Uncle Sam will have a controlling share of the stock with something close to 50 percent ownership (in GM), and no bankruptcy judge. So this is a political restructuring run by the White House, not a rule-of-law bankruptcy-court reorganization. Meanwhile, top Obama adviser Valerie Jarrett opened the door wide on CNN yesterday to bank nationalization and CEO firings.” Now, these stress tests are coming out of the banks, and guess what? Citibank may need more money. The stress tests, exactly as I called them last week, are possess tests. The stress tests are possess tests! More government ownership, more government control of the banks. The UAW, the unions, now get the official payback for all these years of supporting Democrats and President Obama.”

By: GetBackJack

GetBackJack — Tue, 28 Apr 2009 22:56:59 +0000

Where is our military in all this?

They are SWORN to uphold and defend the Constitution, and they’re totally absent, completely silent and utterly off the stage. If the military of the United States won’t step in and stop this Sovetizing of private industry, then I swear an oath against them.

Seriously, where’s our last line of defense against usurpation of the Constitution?????

By: Reality Bytes

Reality Bytes — Tue, 28 Apr 2009 16:47:44 +0000

Now you know how the German Jews felt. Hey, it was about fairness against greed then too right?!

By: curvyred

curvyred — Tue, 28 Apr 2009 16:44:27 +0000

Seems to me like Father Phlegm and Rev Wrong’s dreams are coming true: “take their money away”

Is this really happening in our country? I get more and more frightened every day – and I am not generally an alarmist.

What’s next confiscating our 401k’s?