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Obama's (Un)American Auto Bailout

tbejma Wrote: Sep 07, 2012 10:34 AM

That's because they mortgaged the farm a year before the banks went under and the credit froze up. Why? Because FORD WAS 3 MONTHS FROM GOING BANKRUPT!!! [source: "American Icon" the book about Ford's turnaround]. It was in no way that Ford was any better off, in fact they were so bad they would have went under first (Chrysler and GM would have followed shortly after). Ford did take the handout and in fact still owes the government: http://www.forbes.com/sites/joannmuller/2012/08/29/automakers-report-card-who-still-owes-taxpayers-money-the-answer-might-surprise-you/

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Obama's (Un)American Auto Bailout

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...

Related Tags: Bailout Barack Obama auto bailouts GM DNC 2012 Convention