Charles Rangel of The House Ways of Thieves Committee

Charlie Rangel is back in the news again. Now for accepting trips to the Caribbean from a private corporation. This time he was forced out of his chairmanship of the House Ways and Means committee, which I have, rightfully so, called the House of the Ways of Thieves Committee. Of course Rangel is trying to “fake the high ground” according to him he has stepped down willfully to avoid undue embarrassment to his colleagues.

FoxNews has the skinny on Charlie and his “Gallantry”.

“I respectfully request a leave of absence from my duties and responsibilities as Chairman of the Committee on Ways and Means until such time as the Committee on Standards completes findings on the review currently underway.”

House Speaker Pelosi said in a written statement she will “honor” the request. ”I commend Chairman Rangel for his decades of leadership on jobs, health care, and the most significant economic issues of the day,” she said.

Decades of leadership….. more like decades of thievery.

This is fitting; it’s a very liberal use of the term ‘Leadership‘ but of course this is a fine example of  ‘Honor Amongst Thieves‘.

So now he respectfully requests a leave of absence? What about the statement he made on March 2nd?

Rangel spent the last week defying calls for him to step down. He adamantly denied reports Tuesday that he was planning to step aside, telling reporters who asked whether he would stay in his position, “You bet your life on it. And I don’t lie to the press.”

It doesn’t say much for his moral standing does it? I have to wonder what his word is worth these days. He’ll need a Government bail out just to take his oath in court.

Obviously he Can’t Take the Heat so he’s getting out of the Kitchen. But he jump in the fire?

No doubt he read the writing on the walls when other Democrats started to call for his removal from his position of confidence. Rep. Artur Davis of Alabama and member of the Congressional Black Caucus made this statement:

“Representative Rangel has had a long and distinguished career and I respect his leadership. But I believe Congress needs to do more to restore the public trust. An Ethics Committee admonishment is a serious event and Representative Rangel should do the right thing and step aside as Chairman of the House Ways and Means Committee. I will consider returning the $1,000 contribution he made to my 2008 re-election campaign.”

Return his campaign contribution? Can you say running scared? He may as well be a Leper.

If this rebuke from his own party is any indication of the seriousness of the situation than I’d say Rep. Rangel is all but done; not just in The House Ways of Thieves Committee but possibly in Congress all together. Though Rangel has every intention of returning to his chairmanship after this political shit storm blows over, the Republicans want him permanently removed from the position. Most certainly something to become mid-term election fodder. Any one who wants to allow him to return will look as corrupt and untrustworthy as Rangel himself.

I can’t imagine anyone letting him return to the position let alone Congress. The way I see it he should be “getting to know” his new cell mate in a prison some where.

It’s a Cracked World and guys like Rangel are the ones that made it that way.

Still today Senate Majority Leader Harry Reid Democrat from Nevada and Kentucky Senator Jim Bunning are embattled

Sen. Harry Reid

in debate over a seemingly routine bill to extend unemployment benefits. Of course we should all know by now that nothing about Congress - or any other WashingTARD - for that matter is routine or mundane.

The trouble began where the bill failed to pay for any of the provisions it institutes. There is no mention of how to pay for the $10 billion for unemployment benefit extensions.

Also wrapped up in this fun little package is funding for road and highway construction which Senator Reid claims employs a million people, I’m quite sure that Senator Reid’s estimations for the number employed by this plan are exaggerated like all the other jobs numbers the White House submits on it s Recovery.gov website.

And last but not least is the “DocFix” provision which would reduce the Medicare compensation for doctors by 21%. I believe without doubt that this is one of the bigger reasons for Sen. Bunning’s blocking of the bill. This is one major sticking point with Obamacare; the reduction of Medicare expenses by screwing over the very doctors that are supposed to give the care.

Sen. Bunning is of the inclination that the various provisions in the bill should be provided for. Pointing out that Sen. Reid and the Democrats had just recently pass the PayGO legislation and are already poised to break the very law they just passed; he called the Democrats Hypocrites. Asking, “Why would you vote for a bill you knew was not going to be honored,” he said. “Why vote for a bill you knew would be violated with the first vote?”

To that point Reid shot back stating that Bunning, who suddenly is concerned with “PayGo didn’t even vote for the PayGo measure in the first place. Nor was he concerned about paying for things when President George W. Bush engaged our nation in two unfunded wars and laid out tax cuts that weren’t paid for either.

I’m confused, Sen. Bunning wants to pay for all expenditures yet didn’t vote for the PayGo measure, and didn’t attempt to pay for numerous expenditures when those expenditures were his parties. While Sen. Reid doesn’t want to use the PayGo measure he recently voted for and criticized the Bunning for not supporting the PayGo measure that he now wants to throw out the window?

Now do you understand where my term Washingtards comes from?

Of course my solution would employ a little more common sense than the WashingTARDS can handle. These three separate issues should be addressed in separate bills. The “Piggybacking” of different unrelated issues on top of one another always creates more scrums than an AHL Hockey game.

This is situation where both men are fight and both men are wrong. There is NEVER a reason not to pay for the expenditures we incur. Though I see Sen. Bunning’s point why did he wait until the country is in such turmoil before deciding to get all “fiscal” on us? The answer is simple: Bunning isn’t running for reelection this fall. He doesn’t care who he pisses off!

Thanks a million…..I mean billion, Senator. You waited until things couldn’t get any worse before you decided to get all fiscal on us. Of course with your golden fleece pension, healthcare plan you won’t need to worry about where your next paycheck is coming from or what doctor is going to be willing to treat you after a 21% pay cut to Medicare you will never have to use.

Let’s not forget Sen. Reid in all of this either. He wasn’t worried about funding expenditures when the Stimulus was passed; or the Omnibus; or when Bush passed TARP either. Fiscal responsibility is just a talking point Reid is using because now more than ever the American people are worried about it and he is trailing by double digits in the Nevada senate race.

Both of these guys have been in Congress since 1986. Where has the fiscal responsibility for the last 25 years been? It is clear to me that their reelection is all that matters to them.

My questions are: How long will it take to move this through and have it paid for? And what will the consequences be if they don’t?

Oh what a Cracked World we live in.

]]> http://crackedworld.com/2010/03/02/reid-and-bunning-spare-over-the-fate-of-unemployment/feed/ http://crackedworld.com/2010/02/25/american-idiots-and-healthcare/ http://crackedworld.com/2010/02/25/american-idiots-and-healthcare/#comments Thu, 25 Feb 2010 23:01:13 +0000 C.C.Mitchell http://crackedworld.com/?p=740 It seems that the liberal thought process is coming out again. They need to save us from ourselves. We are just too dumb to know whats good for us. After a year of the American people saying we don’t want what “THE WASHINGTARDS” are selling they are still trying to find a way to shove 2400 pages of legislation down our throats under the false illusion  that WE JUST DON’T UNDERSTAND.

Glenn Beck illustrates this as only he can in the below video clip from Foxnews. Beck gets a little goofy but he does drive the point home nicely. Stick with it he plays some nice footage of Valerie Jarrett trying to explain that the public was so drawn to the Hope and Change slogan because it was simple for us to understand after a man suggests that some booklets might spell things out to the American Idiots like those in the Tea Party movement.

Dr.O is so bright he sees his errors immediately……… ummmm OK I’ll ask: Whens he going to figure out that the people - The American Idiots, by steadily widening margins, don’t like his health care bill!??!

Of course this genius spent about six and a half hours today to discuss health care reform and in the end drew the conclusion that the disagreements out weigh the agreements; that the differences are irreconcilable; that the gaps can not be bridged.

Really!?!? I’d have never guessed that. It’s to be expected, idiots you know.

Bill Maher seems to have it figured out though; just don’t bother explaining it! Americans are too dumb to care or even notice. I would beg to differ, but what do I know I still believe in a higher being.

GEE I guess we’re condemned to stupidity. Never to know the burdens of superior intellect.

If Bill Maher and Barrack Obama posses superior intellect I’d rather be dumb.  Us useful idiots do serve one use, we get to choose if those with the superior intellect keep their jobs or not. So, do you think he sees that error?

Its a Cracked World!

That being said I happened across this and had to share…..

This Tim Hawkins guy is brilliant but the guy that invents a television that I can punch some one through will be a rich rich man…. at least until he pays his taxes.

What else is there to say Mr. Hawkins covered it all I think. Unless someone would like to point out any inaccuracies he may have made. But lets face it that would be a tough challenge. As you may notice this was about the government as a whole, not just Barack Obama or George W. Bush.

Yeah some of these guys in Washington show up with good intentions but, as the saying goes, “The road to hell is paved with good intentions.”

Then there are the rest of Washington. I think Fred Thompson,the former Republican Senator from Tennessee, said it best: “Many politicians come to Washington with ideas of cleaning up the cesspool and finding a Hot tub.”

Thanks Fred I got a good laugh out of that. I haven’t followed his career in politics so I can’t say if he’s a hypocrite or not. If any one would like to enlighten me please do.

It just goes to show that politics CAN be funny! I hope you all think so too.

A bit of humor is needed in such a Cracked World.

The Mount Vernon Statement looks good on paper but is it real? Will the signers of this new declaration to return the will of the people to the people be beholden to this document as were the Founding Fathers were when they signed The Declaration of Independence? Or will this “Historic Document” merely go down in history as going down in flames?

Will the signers of this document walk the walk? Or is this just lip service to the Tea Party Movement?

The signing of the Declaration of Independence

Exactly what is it  that makes The Declaration of Independence so special, so important, of such great consequence? The consequence of course. The document itself - though the rallying cry of the ages and a symbol of our freedoms and liberties - is just ink on paper. Do not misunderstand. I am in no way shape or form trying to diminish the grandeur and importance of The Declaration of Independence. I am simply trying to say that it was the men who wrote it that make it so grand and important.

These men stood up against what they understood to be an oppressive governing body with much more than empty words. They believed their document to be much more than just ink on paper. They stood by their statement and were willing to sacrifice all that they held dear on this earth in hopes of a better tomorrow. If the revolution had failed they would have been tried for  treason and executed.

So what penalty will the men and women who have consigned themselves to this new statement suffer if it is just ink on paper? They may be humiliated in the press; They may be called names; Maybe even lose their jobs. Certainly not death or bodily harm

Clearly they have almost nothing to lose. They are humiliated, and called names on a daily basis now. And most are more than affluent in their lives anyway.

The comparison of the latter pales to the former; the stakes aren’t high enough to hold them to their statement.

Tea Party Power

The tea Party movement now in full swing is most certainly having its effect on the political landscape. Their cause is obvious; they want a return to a smaller government, to be held to their own self interests and not big brothers. Yet again - though honorable and patriotic as their intentions may be - they do not fear the consequences of The Founding Fathers.

They all assemble before the various government buildings in Washington armed with admonitory signs and snappy slogans and catchphrases - some angry mob. Afterward they go back to their daily lives hoping they made some lasting impression on the politicians hiding inside. With no worry of retribution they stuff their signs in the closet until the next big rally.

So what is my point in all of this? Do they have the will to see it through? What are they willing to sacrifice for their cause?

A new American Revolution?  I think not.

I support the Tea Party movement and I applaud the signers of The Mount Vernon Statement but I myself will be watching these people for sincerity. I also noticed that the Washington politicians haven’t lined up to sign this statement meant to  support of the very documents they took an oath to uphold.

It’s a Cracked World!

Taxes - The Four Letter Word

several four letter words that I can think of!

Tax is the grand plan in Washington, the American business owner has been confused with the ATM machine. Politicians will continue to spend and balance it all out with higher taxes on the rich. Taxing the rich means taxing the business owners. Correct me if I’m wrong but that means taxing the job providers. How can any one justify this?

Yeah yeah I know:

The Evil Corporate America dripping with greed; overflowing with apathy; rolling in money filthy. The financial embodiment of the spoils of treachery and oppression. I am familiar with the way the left and the unions view Corporate America.

Increasing taxes on the American economies life’s blood  is not the way to produce jobs in an economic recession rivaled, some say, only by The Great Depression. Nor is it fair or morally sound to expect the haves to pay for the short comings of the have-nots.  That’s Left Washington’s big plan, to increase taxes on the rich to bail out the federal governments entitlement programs and all its other uncontrollable spending.

But it’s not just the Evil Corporate America that will pay the price for Congressional indiscretion. It is becoming more and more evident that Dr.O is planning on increasing taxes on the middle-class as well. No he won’t come out and say it yet but if it’s on the table as he says it is you can bet your bottom dollar that they will.

Think about people, what happens to us if you spend more than you make? You find yourself in debt and struggle to pay off that debt.

Congress doesn’t want to do that! They don’t want to make good on their debts. (I say THEIR debts because they are the ones who over spent, not me). Whats worse Congress hasn’t just racked up debt. They have racked up so much debt that by 2011 that level of debt will be equal to GDP -  Gross Domestic Product. In other words they won’t JUST be spending more than they take in. America’s total amount of debt will be equal to what they take in.

Tax may be a four letter word but it is really they only solution to paying for their irresponsibility. Of course that alone will not solve the problem. They need to STOP spending! Congress seems to increase the debt ceiling with every tax increase. By-the-way what is the point in having a debt ceiling when Congress can raise that ceiling at will? I think I’ll tell my wife that I want a new truck so we are going to overspend some more to cover the expense. NOT!

These people are out of touch. Not just out of touch with we the people but out of touch with reality.

In any balance sheet no matter how big or small incoming is supposed to be equal to outgoing. Money left over in incoming is called a surplus. Now there’s a word they haven’t heard in a long time.

It’s a Cracked World when those who are in charge of the stewardship of our economy don’t understand the most basic concepts of accounting.

Today House Republicans tried to pass a resolution to remove Congressman Rangel from his chairmanship following a long dingy laundry list of wrongdoing. Of course House Democrats quickly put down the effort to remove the embattled congressman in a brazen show of partisanship and zero regard for the taxpayers who vote them into office.

So much for transparency huh Speaker Pelosi! What happened to draining the swamp? What happened to the most open and ethical Congress in history? Just check with The Moderate Voice for Nazi Pelosi’s standing on the issue.

Charles Rangel - Chairman of House Ways and Theives Committee

It’s not difficult to see why Rangel doesn’t want to lose his position as chairman of the House ways of THIEVES Committee. Quite obviously it lends itself well to tax evasion, and other forms of fraud.

Why other House Democrats aren’t trying to distance themselves from the congressman is beyond me when you consider their reaction inside the halls of Congress to the recently unveiled scandal of ACORN. Speaking of which, I’m sure by now Congressman Rangel has informed all of his staffers and aides not to speak with any pimps prostitutes or other nefarious looking characters.

Charlie Rangel is serving the House of Representatives for 40 years, here is a list of things he will undoubtedly be remembered for the most:

• A failure to report $3 million in business transactions from 2002 to 2006.
• A failure to disclose $1.3 million in outside income from 2002 to 2006.
• The undervaluing of his assets by $780,000 in 2007.
• The refusal to reveal a bank account valued at $500,000.
• The refusal to list the sale of a Harlem brownstone in 2004.

I must say that’s not what I want to go down in history for after 40 years of public service.

To add insult to injury Foxnews recently reported:

In June 2009, the House Ethics Subcommittee opened a probe of Rangel’s trips to conferences in the Caribbean, and in August Rangel disclosed more than $500,000 in previously unreported assets.

“These are glaring tax violations and he has paid no penalties or interest,” said John Stone, a spokesman for Rep. John Carter, R-Texas, who is leading the effort to oust Rangel from his post.

For a much deeper analysis Michelle Malkin has the skinny.

Congressman Rangel has screwed the citizens of New York so badly for so long they need their own support group. They need a special place in prison for people like him. I like to think Hell already has one.

What can I say it’s got Cracked World when lawmakers help lawmakers break the law.

So many catastrophies, so little time.

Take a look around at how well all the other catastrophes turned out after the government stepped in.

• AIG got big bonuses anyway because Christopher Dodd and Barrack Obama made sure they did.
• The stimulus plan fizzled after the promises of new job creation fell far short of the Presidents rantings and the publics expectations.
• The auto makers are now all bankrupt (except Ford) and selling off their bad assets while shafting their bond holders into accepting pennies on the dollar for debts legitimately owed to them in the process.

I am not saying that there isn’t a problem with the cost of health care in this country; what I am saying is that a government run health care system is not the best solution to the problem. “Socialized medicine” is the new term for it, though not all people like that name it does describe the idea well.

In a speech given today intended to garner support from the AMA-(American Medical Association) for his “Socialized Medicine” plan the president eluded to the idea of capping malpractice suits against doctors. He said “I recognize that it will be hard to make some of these changes if doctors feel like they are constantly looking over their shoulder for fear of lawsuits.” At the same time he still opposes capping malpractice damages awards on the record; meaning he has not outright proposed a cap only a recognition of the issue. Furthermore the trial lawyers who have been big supporters of democrats in the past have no intention of allowing a cap on these lawsuits without a fight and most assuredly a threat of pulling campaign contributions as retribution for such a policy. In short don’t expect it to happen, its all lip service.

The Wrong Prescription

Senate Republican Leader Mitch McConnell made sure his voice was heard as he referred to the “Socialized Medicine” plan as “the wrong prescription” as he went on to say that “Americans want change, but they don’t want changes that will make existing problems worse. And that’s exactly what a government-run system would do.”

President Obama stated that the plan would cost around $1 trillion or more over the next ten years.

“Or more” being the important words of that statement. Lets face facts his numbers crunchers haven’t done the best job at determining the costs and benefits of the administrations’ dealings. The Stimulus package will cost far more in the long run than expected because of a lack of tax revenue caused by the recession, the jobs created and saved was a delusional number that he still stands by even though its impossible to determine if a job was saved as a result of his spending of tax dollars.

Besides everyone knows that the cost of health care is steadily rising and that will not stop over night therefore his $1 trillion todaycould be $2 trillion tomorrow. Besides he already said the government is running out of money so this is more deficit spending. I guess that shouldn’t shock me.

They Say it will Fail

In his speech to the AMA in Chicago he said,

“They’ll give dire warnings about socialized medicine and government takeovers; long lines and rationed care; decisions made by bureaucrats and not doctors. We’ve heard it all before — and because

these fear tactics have worked, things have kept getting worse,” he said.

We’ve heard it all before…… Yes we have! We have heard it from Canadians who would rather travel to The U.S. for their health care because its not government ran and because there are no lines of rationed care, the same complaints are made in England and other European nations with systems of “Socialized Medicine”.

The fear tactics worked because they are fact tactics.

The fiscally conservative Blue Dog Democrats, in The House of Representatives, doubt that health-care reform legislation will curb rising costs of health care while maintaining current standards of care.

On Tuesday the Republicants plan to release an alternative plan to that of the presidents. Lets hope it has more substance than their alternative plan to the stimulus package which was a joke by any standard.

Hang on to your hats folks this could get nasty real soon. In any case the outcome doesn’t look good.

Its a Cracked World, but we already know that don’t we?

Republican Party

Are you fed up with your Party? In the past I have refrained from labeling myself to a specific political party though the values that I hold, the morals that I believe in, the ideology of how to govern have always went against the grain from that of the Democrat ilk. Does that make me a Republican? Not necessarily. There are multiple alternatives to these two political parties. If you fall into neither of these parties you may be in league with a (gasp!) THIRD PARTY!

There seems to be a new kid on the block every election cycle; most voters consider following a third party candidate a lost cause. “They don’t have a big enough following to make a difference.” I remember the warnings of the 2000 election that a vote for Ralph Nader is a vote for  George W. Bush because all it would accomplish is taking a vote away from Al Gore. This is chronicled HERE.

Democrat Party

Remember Ross Perot? He was a third party candidate and held a huge impact in the 1992 presidential election he received a respectable 19% of the popular vote. That must have scared the hell out of the big two that make up the “Duopoly” in Washington.

These are just a couple of examples of third party candidates and clearly the two who had the greatest impact in modern politics.

As stated earlier I tend to fall at odds with Democrats on most if not all accounts of politics; by the same token many Republican politicians have rubbed me wrong as of late and it at times seems as though their entire party is crumbling at its very foundations. I do not call myself a Republican, I am a Conservative. A Conservative Party Member? Not necessarily, I hold conservative values but that is a dieing thing within the Republican Party its not a wonder they lost the 2008 election across the board, they have all moved to far left. The right wing is now in the center!

These two dogmas both assume they only have to defeat the other to win the White House they spend all of their energy snarking each other and have both lost site of why they are there; to serve the people who voted them into office based on the issues and opinions they held during election.

Its time for a wake up call!

So what are people like me to do? Revolt on the Duopoly? This doesn’t sound realistic on many fronts but over time it may over take one of the Big Two.

These Third Parties would have to move concisely, patiently, and wisely. Closely following the desires of the American people and learning from the mistakes of the aforementioned Big Two.

Take heart your choices are great, look at the already long and ever growing list of third party choices there are to choose from.

• CONSTITUTION PARTY
• GREEN PARTY OF THE UNITED STATES
• LIBERTARIAN PARTY
• AMERICAN INDEPENDENT PARTY
• AMERICAN REFORM PARTY
• INDEPENDENCE PARTY LABOR PARTY
• U.S. MARIJUANA PARTY (No I’m not making it up)

More information on all of these parties can be found HERE. Yes even the U.S. Marijuana Party - seriously. Some where out there there is a party for you. Possibly you need to form your own political party that holds your views. Obviously any one can do a bunch of dope smokers did it why can’t you?

Imagine the day that one of these parties, or some other garners a large portion of votes in a future election. That would scare the hell out of the Democrats and Republicans.

All of us here at Cracked World know it doesn’t have to be that way but its up to us to fix it.

General Motors Head Quarters

believe it is the best thing that could have happened to the Auto maker it will be a bitter pill to swallow. Already the Obama administration has handed over another $33 billion of government (taxpayer) funds. This brings the total to well over $50 billion leaving many Americans are skeptical including myself.Don’t take my word for it, here’s a poll conducted by Fox Forums. At the time of this writing 92% think we will never see the money we “sank” in GM also known as Government Motors.

I for one would like to know exactly what Obama’s intentions are.

“Our goal is to help GM get back on its feet … and get out quickly,” Obama said.

He said the government would act as “reluctant shareholders” and that he has “no interest” in running GM. Yet the federal government now holds a 60% interest in General Motors.

Foxnews.com supplied an outline of GM’s bankruptcy plan.

The outlines of the restructured GM are as follows:

• Cut GM’s production break-even point from 16 million annual unit sales to 10 million.
• UAW concessions include allowing GM to shed its $20 billion obligation to its pensions and health care fund, otherwise known as the VEBA. The White House said the UAW concessions were more substantial than those sought by the Bush administration when it was considering throwing the company a taxpayer lifeline.
• Bondholders representing at least 54 percent of the company’s unsecured bonds have agreed to trade their portion of GM’s $27.1 billion in unsecured debt for a pro-rated share of 10 percent of the equity in the so-called new GM. In addition, the bondholders will receive warrants for an additional 15 percent of the company. The bankruptcy process, which the White House said should take between 60 and 90 days, will enforce this distribution as well as adjudicate proceeds for bondholders who do not participate in the White House deal.
• The reorganized GM will buy most of the old GM assets needed to carry out its business plan. The purchase will happen in the Chapter 11 process. In exchange, the U.S. government will relinquish a majority of its loans to GM.– The new GM will create an independent trust (VEBA) that will finance health care benefits for GM’s retirees. The VEBA will be funded by a note of $2.5 billion payable in three installments that end in 2017. There will be an additional $6.5 billion purchase that will create 9 percent perpetual preferred stock. The VEBA will also receive 17.5 percent of the equity of New GM and warrants to purchase an additional 2.5 percent of the company. The VEBA will be able to chose one independent director for the new board. It will have no right to vote its shares or other exercise other governance rights.– The GM-qualified pensions for current hourly and salaried employees will be transferred to the new GM.
• Treasury will provide $30.1 billion of debtor-in-possession financing to support GM through an accelerated Chapter 11 process. Officials anticipate no additional funding for GM. “There is no plan of any kind for future support beyond this point,” an official said.The government will receive $8.8 billion in debt and preferred stock and 60 percent of the company’s equity. Treasury will appoint all new board of directors members not appointed by the VEBA and the Canadian government.
• Governments in Canada and Ontario will lend $9.5 billion to GM and the new GM. The Canadian and Ontario governments will receive approximately $1.7 billion in debt and preferred stock, and approximately 12 percent of the equity of the new GM. The Canadian government will select one director to the new GM board.
• The new GM will, as part of the government-supervised restructuring, build a new small car in an idled UAW factory. The goal is to increase the share of U.S. production for U.S. sale from 66 percent currently to 70 percent.

These are the White House “principles” for managing the ownership stake:

• The government will sell equity stakes as “soon as practicable.” The goal is a profitable company without government involvement.– The government will reserve the right to set up-front conditions to protect taxpayers, promote financial stability and encourage growth.
• The government will manage its ownership stake in a hands-off, commercial manner. It will not interfere with day-to-day company operations. No government employees will serve on the boards or be employed by these companies.
• The government will only vote on core governance issues, including the selection of a company’s board of directors and major corporate events or transactions.

So the sale of equity stakes will take place, “as soon as practicable.” Kind of like all of the Banks the government currently owns which are not allowed to pay back the TARP money they received a few months ago?

The government will only vote on core governance issues,like the selection of the company’s board members and major corporate transactions. This still allows them to stack the deck with whom ever they want to run the company. After all Obama did fire former CEO Richard Wagner. So I would expect him to put in place a puppet board to run the company as he sees fit.

Shortly after the filings were made official President Obama made a speech, something he seems to be making a pass time of, to address the bankruptcy issue. In this speech he made some ghastly statements concerning it’s effect on the state of the economy.

I will not pretend the hard times are over. Difficult days lie ahead. More jobs will be lost. More plants will close. More dealerships will shut their doors, and so will many parts suppliers. But I want you to know that what you’re doing is making a sacrifice for the next generation, a sacrifice you may not have chose to make, but a sacrifice you are nevertheless called to make so that your children and  of our children can grow up in America that still makes things, that still builds cars, that still strives for a better future.

Sacrifice? Sacrifice? Sacrifice for a better future. President Obama didn’t care about our childrens’  future when he squandered it away in all of his ridiculous spending plans that he has shoved down our throats over the last 4 months.

We already know that the government is going to control the kinds of cars and trucks that the Auto makers will be allowed to make by imposing new emissions and fuel economy restrictions on the car companies; and in doing so he is guiding GM and Chrysler in the direction he wants them to go in. Ford Motor Co. will stand alone in its ability to produce what ever vehicles it chooses until 2017 when new Auto standards go into effect.

The closing of a multitude of auto manufacturing plants and, by extension, their parts suppliers, as well as about 2600 GM dealerships won’t sit well with the tens of thousands of people that will loose their jobs. None of these people will have that “future” that he spoke of.

Sorry folks but I think the community organizer has bitten off more than he can chew this time. He has never ran any company let alone a car company. I fail to see where he will be able to implement a viable solution to these problems through, what has become a favorite tactic of his, government intervention. It will, I think, lead to the death of an American Icon; The American Auto Industry.