Slightly after or concurrent to the Stimulus initiative in late February or early March of 2009 of our timeline was the Auto Bailouts. During the discussions with Congress and GM & Chrysler, numerous irregularities were noted the most egregious was during Steve Rattner’s appointment as Auto Czar. He personally forced the placement of bondholders subordinate to the United Auto Workers (UAW) during the pending Bankruptcy proceedings even though the UAW did not have any claim on any assets of GM.
The Bondholders are considered “secured creditors” in the legal process and held a first payout provision in bankruptcy law after vendors as creditors.
When all is said and done the UAW ended up with a huge stake in GM, which is in deference to federal antitrust laws. Chrysler faired better as they had an outside Suitor, FIAT purchased their assets, although the UAW ended up with a 55% stake in Chrysler. The GM bondholders only ended up with 29 cents on the dollar, even though they were secured creditors, which shows the coercion Obama and his henchmen will go to protect their union allies.
Another nexus in this sad and tired refrain equal to a Greek tragedy on human frailty we have the inexplicable actions of Eric Holder and the DOJ dropping charges against the New Black Panther Party for voter intimidation committed during the elections in 2008. DOJ had a default finding and Judgment by the Court and only needed to complete the case to bring justice for the flagrant intimidation of voters outside a polling station in Philadelphia.
This action by the DOJ was also met with internal resistance with numerous long time attorneys resigning in protest.
We also have the remarks made by Holder that he would see to it that minorities would be treated differently now that he was Attorney General. He is also called our Nation a “Nation of Cowards” in a remark in February 2009 during Black History Month on civil rights and racial matters. What else can we expect from Barry and company?
In June of 2009, we have the disputed election results in Iran where the people of this Nation rose up to protest the presidential election of Ajad and their oppressive government of Shiite Muslims. Shiites believe in the succession of the Twelve Imams and that the Sunni majority are illegitimate in their following the teachings of Muhammad, they are simply a more radical form of Islam.
Their sect of Islam is only practiced by 20% of Muslims worldwide.
They refer to our Nation as the “Great Satan” and continually advocate the destruction of our Republic. Barry being the ardent defender of freedom and democracy for our nation did not lift one finger or make any statements to assist the People of Iran that were willing to throw off the shackles of oppression from their Muslim theocracy. Barry and the State Department simply sat on their hands, folded as if cheap lawn chairs, and refused to discuss the matter with a troubled world or this nation’s people.
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