We are not an unreasonable group. We understand that to save GM everyone will need to endure economic pain. But we are very troubled by the government's decision to give UAW retirees -- equal members, with the bondholders, of the unsecured creditor class -- preferential treatment. The government cannot be permitted to rewrite bankruptcy rules on a whim to selectively benefit equal groups.
Basic Obamonomics Mr. Buchholtz, the UAW spent millions electing the Obama so in his book they get first share of the spoils.
I believe that you have the title wrong on this. The correct title should be (as said by Mike Church or Mark Lavin) "He's taking money from Peter and giving it directly to Paul."
ReplyDeleteI concede that my title does give the impression that somehow Paul has earned what he is receiving - which is, in this case, certainly not true!
ReplyDeleteThanks