April 28, 2009
Another T-Shirt Post
Today's adventures in Socialism come to us from Powerline.
Starting with the complete nationalization of General Motors in a perverse deal that gives current bond holders 10 percent of the company's common stock in exchange for $27 Billion in bonds, and gives the UAW 40 percent of the Stock in exchange for $10 billion in bonds.
This must be that "new" math I've heard about where there are no wrong answers as long as you feel good about your solution.
The remaining 50 percent of the stock will belong to The Federal Government. And since The One will probably do whatever his bosses at the UAW ask him to do, General Motors is now effectively run by the union.
There is also a deal in the works to keep Chrysler out of the bankruptcy courts. How do you think the UAW fill fare in that arrangement?
The Fed is also setting the stage for a complete federal takeover of Citigroup and Bank of America. (You weren't really expecting them to pass the "Stress Test" were you.)
Next week, The One is going to unveil the newly revised Preamble to the Constitution:
The t-shirt is right. This bumper sticker too.
Starting with the complete nationalization of General Motors in a perverse deal that gives current bond holders 10 percent of the company's common stock in exchange for $27 Billion in bonds, and gives the UAW 40 percent of the Stock in exchange for $10 billion in bonds.
This must be that "new" math I've heard about where there are no wrong answers as long as you feel good about your solution.
The remaining 50 percent of the stock will belong to The Federal Government. And since The One will probably do whatever his bosses at the UAW ask him to do, General Motors is now effectively run by the union.
There is also a deal in the works to keep Chrysler out of the bankruptcy courts. How do you think the UAW fill fare in that arrangement?
The Fed is also setting the stage for a complete federal takeover of Citigroup and Bank of America. (You weren't really expecting them to pass the "Stress Test" were you.)
Next week, The One is going to unveil the newly revised Preamble to the Constitution:
We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defense, promote the general Welfare, build green cars, offer free checking, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.
The t-shirt is right. This bumper sticker too.
Posted by: Stephen Macklin at 11:39 AM | No Comments | Add Comment
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