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Obama's (Un)American Auto Bailout

Joseph64 Wrote: Sep 06, 2012 5:51 PM
GM backed out of negotiations to sell Opel because they realized most of their best engineers were located in the German arm of the company and most of their fuel saving technologies were also coming from there. If they had sold off Opel, it was going to be very hard for them to comply with future fuel economy regulations at all of their divisions around the world and not just here.

CHARLOTTE, N.C. -- Cue "Fanfare for the Common Man" and rev up the Government Motors engines. Wednesday is Great American Auto Bailout Day at the Democratic National Convention. Party propagandists have prepared a prime-time-ready film touting the "rescue's" benefits for American workers. UAW President Bob King will sing the savior-in-chief's praises.

But like all of the economic success stories manufactured by the White House, the $85 billion government handout is a big fat farce.

"I said I believe in American workers, I believe in this American industry, and now the American auto industry has come roaring back," Obama bragged...