Barry's happy experiment!

Posted by: Casual Reader

Tagged in: Untagged 

Barry's happy experiment!


GM, the largest U.S. automaker, faces a probable bankruptcy filing by June 1 following the refusal of bondholders to accept a 10 percent equity stake in a new company, part of a U.S.- backed plan to give the American and Canadian governments equity ownership of as much as 69 percent and a 17.5 percent trust for unions. GM bondholders hold $27 billion in claims.
“The difference with GM is that, whereas the ‘bad guys’ in Chrysler were hedge funds, who Obama called ‘speculators,’ here they’re Main Street -- individual retirees who bought bonds when they were like gold bullion,” said Thomas Lauria, a lawyer with White & Case LLP who represents Chrysler lenders fighting that company’s U.S. backed reorganization. Lauria said he is seeking to represent GM bondholders in any bankruptcy of that company.
In the Chrysler case, the dissident debt holders disbanded 10 days after the company collapsed, citing political pressure that began when U.S. President Barack Obama criticized the group. Evan Flaschen, chairman of the restructuring department at law firm Bracewell & Giuliani LLP, said uncooperative GM bondholders may be less politically vulnerable.
Retirees Versus Retirees
“The story that hasn’t been told is, this isn’t GM’s union retirees versus the bondholders. It’s retirees versus other retirees,” said Flaschen, who isn’t involved in the GM matter. While Chrysler’s dissidents lost steam because they were forced to identify themselves and faced public stigma, including alleged death threats, GM’s opponents may be harder to criticize, Flaschen said. 

Throw in the new mandated GM eco mini car and we again are on the hook for billions in bailout/tax dollar.. So like it or not.. you're buying GM/Chrysler regardless of what you may actually drive.

Comments (17)add comment
"We know who you are and where you live!"
written by Amendment X , May 30, 2009

"... because they were forced to identify themselves and faced public stigma, including alleged death threats..."
And the lesson of Barney Frank screaming for the names of AIG executives and the resultant ACORN demonstrations in front of their homes are well remembered by corporate America.

Fascism/Socialism/Communism: The New US Government
written by TomC , May 30, 2009

Fascism: Government run or heavily regulated, privately owned industries -- The 2009 banking industry.

Socialism: Government owned and operated industry -- education and the proposed healthcare systems

Communism: Government run and worker owned industries -- the US auto industry

Barry's utopia

written by Kermit , May 30, 2009

Even Pravda gets it:
We are so screwed.

Jeremy Archibald
Barry the car dealer
written by Jeremy A , May 30, 2009

I find it interesting that the O adminstration has decided that the Chrysler dealers that are slated to close are among some of the highest volume Chrysler dealer in the United States.

A vast majority of the Chrysler dealers slated for shuttering are Republican/GOP donors. [link]

Jeremy Archibald
Link for post above
written by Jeremy A , May 30, 2009

I guess you cant do HTML linking.

Testing for html linking...
written by Webmaster , May 30, 2009

Jeremy's Link

URL Links
written by Webmaster , May 30, 2009

So you can do them. Looks like this system uses something called BBCode. Sort of sucks.

A Non Y Mouse
phpVvDEQk_c2PM Publish at Scribd or explore others: Humor Creative Writing
written by A Non Y Mouse , May 30, 2009

test test

A Non Y Mouse
phpVvDEQk_c2PM Publish at Scribd or explore others: Humor Creative Writing
written by A Non Y Mouse , May 30, 2009


tin cans
written by Joel , May 30, 2009

I really don't think the masses understand what is at stack by bailing these companies out.
Obama has a huge debt of his own, to the people that put him in office. GE is demanding huge, monsterous payments in the form of being sole suppliers to solving his energy problems.
Government Motors and Chrysler are going to turn into FA. (Fiat America) Cars will be made to fit, like a coat. What size will you wear/drive? Careful!!!! If it's too large, you're going to be paying higher taxes as you are obviously a health risk to GH.(Government Health)
You might laugh now but you won't be when you're told you can pick your new car up at the taylor.

A Non Y Mouse
written by A Non Y Mouse , May 30, 2009


A Non Y Mouse
written by A Non Y Mouse , May 30, 2009


Casual Reader
written by Casual Reader , May 30, 2009

BTW not a perfect post.. but we're all getting used to the new setup around here

Barthélemy Barbancourt
Your gravatar works Mouse!
written by Il Duce’ , May 30, 2009

Check this thread.

Barry's motors.
written by Sequel , June 01, 2009

Can we just call the new government run auto company BM?

Liberal Fascism
written by K-Rod , June 01, 2009

Where is the outrage? How can this be happening?

*fade to future*

"Grandpa, what was it like before the Liberal Fascists CHANGED America?"

*cue Rush 2112*

Rush STILL rocks
written by auntypsychotic , June 01, 2009

gotta love Temples of Syrinx and Passageway to Bangkok.
and, of course, from their Moving Pictures album; Red Barchetta.

Write comment
You must be logged in to post a comment. Please register if you do not have an account yet.