Monday, April 06, 2009
Wait A Minute, What?
(I placed this at the top since most everyone missed it.)
Kids. I know I may seem politically savvy, (stop laughing), but I do have to work 9 hours a day in the boiling hot sun dealing with morons so that by the time I get home, I don’t always have the energy to catch up on the latest news. So, please excuse me here if I’m being ignorant but I’m really fucking confused.
Remember that whole bailout business? Remember how OUR money was going in to this bailout business to “save” companies from going bankrupt? Did this not happen? Did I miss the part where they changed their minds and did not bail them out afterall? Bailout of auto makers, does that ring a bell for anyone? I could have sworn I read and heard about that. Then, the government decided it was going to back the warranties of these automakers? Remember that? Did I miss something in between “backing the warranties” to “we own your ass now”?
Because this story is really not making sense to me.
The Obama administration is seeking to ease General Motors Corp into a “controlled” bankruptcy by persuading some creditors to agree to a plan that would divide the company into two pieces, the New York Times reported on Wednesday.
What? The government owns this for a day and are pushing them to bankruptcy? What happened to those bailouts? What was the fucking point of the bailouts?
Citing people briefed on the matter, the Times said the plan is to push GM into a structured bankruptcy “somewhere between a prepackaged bankruptcy and court chaos,” using taxpayer financing for leverage.
This does not even make sense to me. I do. not. get. this.
Will someone, PLEASE, explain to me what the fuck is going on around here?
