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<blockquote data-quote="PobreCarlos" data-source="post: 1019668" data-attributes="member: 16651"><p>Bubblehead;</p><p></p><p>Please don't claim that "Obama saved the American auto industry". I don't see that (if it's even true in any meaningful manner) as an accomplishment at all (nor the "saving" of the banks, either, although that ultimately proved to be far less expensive procedure). At the very best, he misappropriated OTHERS money; he most assuredly didn't do it using his own! The fact is that the efficient American auto industry was doing just fine; rather, it was only those burdened by the UAW that were having a hard time of it. And what ended up being "saved"? The companies themselves went bankrupt; i.e. - they ceased to exist. And ownership of their replacements fell to the government and the union....the very entities that had put the the industry in trouble to begin with! Meanwhile, in unprecedented fashion, those who had the most legitimate claims on the companies assets - the secured lenders - got the shaft. As did those PROFITABLE auto companies (and their employees) doing business in American who not only had to put up with the unwarranted, unfair "competition" of the "welfared" government entities, but found themselves SUBSIDIZING it as well.</p><p></p><p>In short, I consider the "saving" of the so-called "American auto industry" an absolute debacle....a debacle of highest proportions; it was simply a sell-out by a politician to a privileged labor group in order to obtain votes...and it cost the American taxpayer an unconscionable and unjustifiable amount of his wealth.</p></blockquote><p></p>
[QUOTE="PobreCarlos, post: 1019668, member: 16651"] Bubblehead; Please don't claim that "Obama saved the American auto industry". I don't see that (if it's even true in any meaningful manner) as an accomplishment at all (nor the "saving" of the banks, either, although that ultimately proved to be far less expensive procedure). At the very best, he misappropriated OTHERS money; he most assuredly didn't do it using his own! The fact is that the efficient American auto industry was doing just fine; rather, it was only those burdened by the UAW that were having a hard time of it. And what ended up being "saved"? The companies themselves went bankrupt; i.e. - they ceased to exist. And ownership of their replacements fell to the government and the union....the very entities that had put the the industry in trouble to begin with! Meanwhile, in unprecedented fashion, those who had the most legitimate claims on the companies assets - the secured lenders - got the shaft. As did those PROFITABLE auto companies (and their employees) doing business in American who not only had to put up with the unwarranted, unfair "competition" of the "welfared" government entities, but found themselves SUBSIDIZING it as well. In short, I consider the "saving" of the so-called "American auto industry" an absolute debacle....a debacle of highest proportions; it was simply a sell-out by a politician to a privileged labor group in order to obtain votes...and it cost the American taxpayer an unconscionable and unjustifiable amount of his wealth. [/QUOTE]
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