We don't own Delphi, but we do own GM which puts the U.S. Treasury Department in something of a bind because the federal government is the major shareholder , the pension plan funder, the pension plan administrator; the insurer (through the PBGC); and, if GM defaults and the PBGC can't cover the pension liabilities, the insurer of the insurer.
This Socialism thing is a lot more complicated than I thought.
Maybe every Friday we'll take a quick look at the polls - as long as their good. Last night, RealClearPolitics listed four surveys measuring President Obama's job approval which were taken (at least in part) during April. Of them
-- Fox News had President Obama's approval rating at 43-48 (-5)
-- Gallup had the President at 49-46 (+3)
-- Rasmussen was at 47-53 (-6)
-- CBS had the President at 44-41 (+3)
Note that even the two which have Obama with a higher approval than disapproval rating still show him under 50 percent. Whatever glow he might have generated from the health care legislation has dimmed, and every day that passes is a day closer to the November 2 mid-term elections.
The other measure which political professionals look at in a non-Presidential year is what is called the "generic ballot." That is a question which is something like: "If the election were being held today, would you vote for the Republican candidate or the Democratic candidate?"
The idea is, in many Congressional Districts the incumbent's name is typically well known, and at this stage any challengers are not well known. So pollsters get a sense of what the electorate is thinking by asking that "generic ballot" question.
-- The Fox News poll has Republicans +4 (43-39)
-- Gallup has the generic ballot as a tie (46-46)
-- CNN/Opinion Research GOP +4 (49-45)
-- USA/Gallup has Republicans +1 (46-45)
If we don't go broke propping up GM over the next seven months, Republicans might be looking at a pretty good election day.
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