Tuesday, May 19, 2009

Treasury's plan to rape the taxpayers

"If General Motors Corp files for bankruptcy, as widely expected, plans include a quick sale of the automaker's healthy assets to a new company owned by the U.S. government, a source familiar with the situation said on Tuesday.

The source, who was not cleared to speak with the media and would not be identified, said the plan also called for the government to forgive the bulk of $15.4 billion emergency loans that the U.S. has already provided to GM.
The source did not specify a purchase price and added that the new company is expected to honor the claims of secured lenders, possibly in full."

These loans were a ruse used by Obama to pay off the Union bosses who helped him get elected.  This is a simple wealth redistribution plan from those who pay taxes to those who elect certain politicians.  It is a game that is being played more and more by the idiots we elect and place into office. Why do so many people not care? Who is John Galt?

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