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The Fleecing Continues Unabated
The American auto industry will be taken over by a czar, a “car czar” that is. President Bush and top Democrat lawmakers have agreed in principal to continue robbing the taxpayers while expanding the scope and power of the federal government.
Under the plan, the Bush and Obama administrations will work together to find a “suitable” de-facto owner of the Big Three. This “car czar” will hold the strings of a purse filled with $15 billion in looted cash. He alone will have the right to spend, demand repayment and force bankruptcy of the now federalized industry. The power Motor City once generated will now be delivered by the Big Red Washington Machine. In return for stealing from the taxpayers (again) and giving the funds to private businesses (again), Washington will receive a massive cut of profits (if any); A sort of steal-from-the-poor-to-give-to-the-dumb-and-rich maneuver. Shareholders, however, are to be barred from receiving dividends or other distributions. So, the only real winners here are the federal government, the giant and lazy unions and auto executives. Everyone else loses big time.
Those who know me know that there has never been a bigger supporter of the American auto industry than myself. I have never owned anything other than a Ford product. Should FOMOCO take one penny, one red cent from this “loan” I swear I will never buy another of their products. The same goes for Chrysler (owned, incidentally, by a CANADIAN company with plenty of money) and GM. As crazy as it sounds, the most American thing I could do under those circumstances would be to buy…gulp…a Toyota or Subaru. I swear it shall be done.
With the take-over of the financial markets and now the stealing of the auto industry, I have to wonder what is next. Utilities? Already happened or happening. Water? Ditto. Agriculture? Probably not too far off. How far will this go until we see full fledged fascist socialism in this nation? We are goose-stepping at an ever increasing pace.
