"Think carefully about what's happening here. The White House, presumably car czar Steven Rattner and deputy Ron Bloom, is seeking to transfer the property of one group of people to another group that is politically favored."Politically connected junior creditors (UAW) being given precedence over more senior creditors
Politically disadvantaged creditors being strong-armed into settling for pennies on the dollar while the UAW gets 100%
TARP-funded creditors having no choice but to play ball
The President himself participating in the demonization of creditors who dare to demand their contractually-guaranteed rights
Taxpayer billions tossed around to buy time and sweeten the pot for a deal
A forced marriage with a weakling foreign car company
Is your stomach turning yet?
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