General Motors.. oh pardon….. Obama Motors has told the major bondholders of what was once known as the biggest and proudest auto company in the world that if they did not agree with Obama and take what he offers .. they would lose big time.
If they did not agree to a 10% stake in the company and a possibility of gaining 15% with warrants…. provided they agree with a quick Treasury-backed sale process similar to one now being used for rival Chrysler… they would end up with substantially less equity and warrants .. with the probability being they ”would be substantially reduced or eliminated.”
Forget the probability.. this was a threat to do or lose eveyrthing .. directly from the White House. Don’t kid yourself .. anyone .. Obama knows what he wants and he will get it.. any way he has to… and this is how he got this. A threat… pure and simple.
Remember when the CEO’s of the big three.. GM, Ford and Chrysler .. went to Washington to lay out their case for a “loan”? Remeber how they were humiliated and made fun of and had fingers wagged in their faces about their arrogance in flying there in their corporate jets to ask for money? Remember?
How much were they asking for … do you remember that? The answer was a resoudning ONLY IF YOU DO AS I SAY… from Obama. They were still innocent and trusting enough to take him at his word.
Now…. Obama has spent billions of our money on ruining those companies …. all but Ford … and is in the process of spending even billions more…. 40 billion in fact .. as he takes over 72% of the former General Motors. Both the former Chrysler and GM are now his to do with as he pleases …. and the bondholders are now owned by him too.. for they were forced to agree or lose it all.
They would have been oh so much better off to just lose it all and maintain their freedom.
Now don’t kid yourself about this either… that somehow General Motors maintains some of its autonomy. The papers .. the media .. may make this sound all good and fine and really a great deal for all of America.
It is not .. and time .. in a very quick way.. will show that to be true… as it already has to those immediately affected .. the employees of General Motors.
The media has come to be nothing but propaganda with no one knowing what to believe and what not to believe.and as long as the media back Obama and pretend he is doing great things for our country…. they are not to be believed.
Step by step we will all be told in one way or another to agree or lose…. big time.. and even when we agree.. we will lose.. .big time .. just as General Motors has.
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