Quote:
Originally Posted by Whirlaway
CJ thinking government bailouts is capitalism is a hoot.
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Bailouts are particularly not capitalist when the government steals equity from private investors (captitalists) and gives owership to the UAW, as they did with GM and Chrylsler. Corporate bond holders had first lien status against GM and Chrylser. The bond holders lost billions when Obama took over the bankruptsy and gave ownership to his union pals and installed his puppet CEO at GM.
Obama's actions created a very unfriendly environment for anyone considering investing in a company in financial trouble. If first lien status means nothing, investors will put their money elsewhere; no capital, no capitalism