I’m confidante that all of you remember the GM (Government Motors) and Chrysler bailouts in which the poor investors got the shaft and Obama’s favorite union the United Auto Workers got the golden key. Everyone is clearly aware that this violated legal bankruptcy procedures, both federal as well as of the individual, states in which GM and Chrysler had assets.
What most people are unaware of is that in the case of Chrysler there was a rather different and sinister twist. This took place in 2009 and was published by the Washington Examiner but received only minor reporting from the lamestream media. Seems that the Car Czar Steve Rattner, a man who had zero experience in the automotive industry and zero experience in distribution forced the closure of 789 Chrysler dealerships, now. It has come to our attention that 788 of those dealers exclusively made contributions to the RNC and Republican causes.
What was even stranger is that these dealers were fully paid up with Chrysler, many had pending delivery orders, most had been in business for over a decade, and all had paid for parts inventories. Rattner said that there were too many Chrysler dealers competing for a limited market and he had reached the decision to shut down 788 of them. What he did not say was that he did not shut down a single Obama or DNC contributing dealer in the entire network. The only Democrat shut down dealership had supported John Edwards, and Hillary Clinton along with $20,000 to Obama that was apparently not enough to sustain them.
How do you increase sales when you shut down 25% of your distribution channels? Rattner refused to say. Rattner eventually resigned but not before he carried out Obama mandates to punish those who did not support Obama against McCain, Clinton and Edwards.
Rattner remains under investigation by the SEC in bank scandal kickbacks in New York City. His wife Maureen White (they always keep their maiden name to hide the graft) who was at that time the national finance chairman of the DNC, who obviously had access to all DNC donor lists.
Ownership of Chrysler as you read is 65% UAW, 20% Fiat and 15% openly traded on the NYSE. All the original investors, stockholders, and bondholders were screwed.