So, for the first time since GM began to stumble toward oblivion, bondholders have a reason to be optimistic. Auto experts are impressed with GM's new product line and their electric car, the "Volt," was recently named green car of the year. Wouldn't it be wonderful to have the beleaguered GM bondholders end up with a "happily ever after" ending? Of course this does not match the Republican party's happy ending! And friends, let's not forget that the socializing of the American auto industry began under George W. Bush and the Republican party. Can't we all good conservatives agree that de-socialing under Obama is a good thing?

Some bondholders have expressed disappointment in being unable to participate in the new stock offering, annoyed at being forced to wait for the conversion to stock and warrants. I believe this will prove to be irrelevant as the bonds are now changing hands at prices that will reflect and track the movement of the stock, anticipating the eventual conversion. On the morning the IPO was released to trade, the GM benchmark 8 3/8% bonds were trading at 34 to 35 cents on the dollar, a far cry from May of 2009, when they hit bottom at approximately 1.5 cents.

The General Motor's bondholder's scenario. Unmentioned amid the overwhelming publicity surrounding the stock offering were the original unsecured GM bondholders. My effort to explain their position follows: According to the trustee, the bondholders who technically own all the assets of the old GM Corp. (Motors Liquidation Company) will receive 10% equity in the new GM along with warrants for an additional 15%. The timing of this distribution of equity to unsecured bondholders is subject to the bankruptcy court process and will occur after a reorganization plan is submitted, accepted and implemented. It cannot be determined how long this will take, but three to six months seems to be a reasonable estimate.

Let's see, Israel is the largest foreign recipient of our taxpayer's dollars. Israel gets $3 billion each year. Israel has 7.5 million citizens. If I do my math correctly that works out to $400 per Israeli each year of American taxpayers wealth being redistributed to them. Is this an example of socialism? A few years ago I backpacked throughout South and Central America for a year. I met many Israelis along the backpack circuit. They say that 75% of young Israelis like to get out and see the world for about the same time as I was traveling. I couldn't help but think that American taxpayer dollars is subsidizing that lifestyle. Israelis are nice people but they, as our European friends are, wealthy too.

Let's see, Israel is the largest foreign recipient of our taxpayer's dollars. Israel gets $3 billion each year. Israel has 7.5 million citizens. If I do my math correctly that works out to $400 per Israeli each year of American taxpayers wealth being redistributed to them. Is this an example of socialism? A few years ago I backpacked throughout South and Central America for a year. I met many Israelis along the backpack circuit. They say that 75% of young Israelis like to get out and see the world for about the same time as I was traveling. I couldn't help but think that American taxpayer dollars is subsidizing that lifestyle. Israelis are nice people but they, as our European friends are, wealthy too.

Is socialism the redistribution of wealth?

Is socialism the redistribution of wealth?

Is socialism the redistribution of wealth?

Is socialism the redistribution of wealth?

When the Republicans got control of Congress in January of 1995 they took care of friends. Cotton Subsidies by year, Texas (millions of dollars) 1995-----11 1996----192 1997----177 1998----335 1999----511 2000----488 2001----708 2002----583 2003----807 2004----475 2005--1,036 That's $5 billion just for a cotton teat suck in Texas! Do you know that most of the cotton grown in the USA is exported. Just look at the label on your clothes for that information. Guess what country is the number one importer of US cotton? You got it. China. US taxpayers are subsidizing t-shirt manufacturing in China. Is that patriotic? Tom Delay's district got a lion's share of the handouts. Data from www.ewg.org