The $114 Billion Rusty Lawn Mower; the Dog That Didn't Bark

Obama's invested our money in another dead company.

By Dan Kennedy
Business & Media Institute

General Motors is worth approximately minus $90 billion. That’s a negative net worth of $90 billion. Into which the president has put about $60-billion total, for 60 percent ownership on our behalf. We have traded plus-$60-billion for minus $54-billion, a net loss of $114-billion. We as investors are upside down by even more than the bankrupt carcass we’ve invested in is upside down.

To do this magical deal, Obama had to commit massive financial fraud (by lying to us and GM stockholders about the company’s certain bankruptcy while engineering it), trash federal bankruptcy law, conspire to steal bondholders’ property and rights (making it insane for anyone to invest in any corporate bonds), create ownership nearly for free for the UAW, and extort the nation of Canada. He did this all in the name of saving jobs – while the result is, in fact, massive job losses, closure of thousands of small businesses (car dealerships) and by domino effect, thousands more. Well, Obama never claimed to be a capitalist, now, did he? Read more.