As George Will said, its corruption. Taking money that belongs to others and giving it to your friends that is.
Thats what has happened with the Chrysler bankrupcy. Senior creditors have been given 29c on the dollar while the UAW ends up with 55% of the company (junior creditors). So let me say it simply - people who loaned money to Chrysler were threated and forced to give that money away so that the union could get control of the company.
Is that American? Is that legal? Is it right? What we are seeing is good old Chicago thuggery. The machine is at work. And its sitting in the White House.
That is why I will never buy a Chrysler. I won't give my hard earned money to thugs - even if they were to make a good product.
What really scares me is now it is happening to GM.
And I actually was interested in buying a Volt.
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