Keane observations about life, politics and sports.

Wednesday, November 4, 2009

Creative Way to Pay Campaign Debts

Unions in general and the UAW in particular have backed Democrats forever and heavily backed President Obama in the 2008 election. Part of that debt is now re-paid. Unfortunately, the debt was paid off with money confiscated from citizens.
Former auto czar Steve Rattner warned recently that much of the government’s $50 billion investment in General Motors and Chrysler is gone.

A government watchdog now agrees.
In all fairness, not many people actually believed the talk that it was a loan. General Motors should have been put through the normal bankruptcy process in the first place. Now, tens of billions of dollars have been thrown down that drainand they are still looking at bankruptcy.

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