The auto bailouts are now being touted by President Obama as a "success" even though the taxpayer is about to take at least a $10 billion hit when the government sells its remaining GM shares. There is, however, a missing dimension in this debate. It is the moral one.
Prior to General Motors filing for bankruptcy in June of 2009, I was involved as a GM bondholder advocate for a group called the Mainstreet Bondholders. Attempts were made by my group to bring about fair negotiations for creditors of GM, attempts that were ignored by the Obama Administration's Auto Task Force, headed by Steven Rattner. The Task Force stated that their goal was to restructure GM outside of bankruptcy as they laid out a "take it or leave it" bond exchange offer that was supposedly designed to keep GM out of bankruptcy.
The unprecedented intrusion of the executive branch of the US government into the American auto industry when the Obama Administration orchestrated the General Motors and Chrysler bankruptcy processes is now leading to unprecedented responses. Groups that were clearly discriminated against and had their rights subordinated to politically powerful unions may actually have a winnable case against our own government as lawsuits are being brought against the US Treasury Dept. and others.
The Detroit Free Press
Politico 
The media may want to take a break from its rooting for General Motors, not to mention its hype surrounding the Chevy Volt. 
Chrysler recently reported a 4th quarter loss of $652 million. So what does a UAW majority owned company that is losing money do? How about a bonus for UAW workers?
The 13th annual global warming alarmism 
