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Banksters win, GM and Chrysler to be dismantled
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This really, really cheeses me off when I read this McClatchy report:

WASHINGTON — President Barack Obama on Monday will reject requests for almost $22 billion in new taxpayer bailout money for General Motors Corp. and Chrysler, saying the car makers have failed to take steps to ensure their viability.

But..butt-boy Geithner wants this:

March 30 (Bloomberg) -- U.S. Treasury Secretary Timothy Geithner said some financial institutions will need substantial government aid, while warning against any attempt to tax investors who join a federal program to buy tainted assets from banks. 

Right!  Just because AIG has lost almost 100 billion USD in the last six months and the American taxpayer has bailed out AIG to the tune of almost 250 billion USD in the last four months.

Meanwhile...

GM and Chrysler have already received $17.4 billion in government rescue money. The two companies faced a Tuesday deadline for the government to approve plans they'd submitted weeks ago in hopes of persuading the Obama administration that they could remain in business anad deserved additional money.

I suggest reading "Why GM Matters" and "American Theocracy" to understand that what is happening is the collapse of American industry.  The collapse in no way should be happening except for the fact that the political and mass media systems has been utterly corrupted by the Wall Street Banksters.

Why we can give the crooks and grifters on Wall Street trillions of dollars?  But when it comes to real jobs that create real products there is the "kick in the teeth" for GM and Chrysler?


Reader Comments

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Cross the Line...
By Ralph T Mar 30th 2009 at 10:54 am EDT (Updated Mar 30th 2009 at 10:54 am EDT)
Ken,
It's time for you to either find another way to express your vitriol, get an editor with a sense of decency, or move on. You've stooped to a new low casually dropping-in a homophobic insult against the President and Mr. Geithner.

This offense doesn't deserve a private admonishment. You threw it up for the world to see and the world must see that at least one other PNC member is offended by your action, and strongly contends that it is not welcome.
Re: Cross the Line...
By Michael Ditto Mar 30th 2009 at 10:33 pm EDT (Updated Mar 30th 2009 at 10:33 pm EDT)
I agree. We smacked Peter Boyles for using the same term: Link

You are better than that.
  
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