Tuesday, April 28, 2009

Geithner: The Fox Guarding the Henhouse? - Larry Kudlow - The Corner on National Review Online

Geithner: The Fox Guarding the Henhouse? - Larry Kudlow - The Corner on National Review Online: "What is going on in this country? The government is about to take over GM in a plan that completely screws private bondholders and favors the unions. Get this: The GM bondholders own $27 billion and they’re getting 10 percent of the common stock in an expected exchange. And the UAW owns $10 billion of the bonds and they’re getting 40 percent of the stock. Huh? Did I miss something here? And Uncle Sam will have a controlling share of the stock with something close to 50 percent ownership. And no bankruptcy judge. So this is a political restructuring run by the White House, not a rule-of-law bankruptcy-court reorganization."

2 comments:

  1. Old Russian saying...You can tell same lie 1000 times but not change truth!

    Difference between USSR Communist media and USA "mainstream media"

    In Russia government make media say what they want - even if lie.
    In USA "mainstream media" try make government what they want - even if lie..
    .....eventually they become same thing?!

    I Igor produce Obama Birth Certificate at www.igormarxo.org

    ReplyDelete