I posted this as a comment to another thread, but it really needs to be stressed. Here is WHY Obama is doing it…
http://sultanknish.blogspot.com/2009/05/obamas-new-american-economy.html
Yes, there is a madness to his method, and we WILL pay for it, as will all generations to come.

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Wealth redistribution!

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On top of the concerns about the dear leader over-reaching his legitimate limits of power to redistribute equity and income to his friends in the UAW, and in addition to the insightful comment about the UAW’s conflict of interest as a bargaining agent vs. Ford …

They also have a conflict regarding representing their membership even at Chrysler. Now that they have a seat on the board of directors, how can they bargain in good faith regarding work rules and grievances? The grievance procedures are a huge element of the union’s activities and in fact become the implementation of the previous contract and lay the groundwork for the next contract. Now that they have a seat, can they honestly represent the interests of their own membership AND the stockholders at large? It seems inevitable that somebody in this mix will be screwed, and I won’t be surprised to see a number of lawsuits result.

Unless, of course, dear leader / el presidente / king hussein plans to coerce that possibility out of existence.

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It is, Mike, but tax increases have to go through Congress. This action is pure Presidential fiat, and that itself is frightening.

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@drjohn asks: “Then what’s to stop Obama from taking anyone’s savings accounts and giving them away to whomever he feels deserves it?”

Isn’t that exactly what they are doing in this case and all the other examples where they are raising taxes and extending further benefits to people who don’t pay any?

As for those Chrysler investors it’s easy for Obama to portray them as greedy Wall Street speculators, but in reality, many of these large investment firms represent the pensions of teachers, nurses and average Americans. Those people have seen a huge chunk of their retirement disappear so Obama can be a hero to the auto unions.

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“White House puts UAW ahead of property rights”

Then what’s to stop Obama from taking anyone’s savings accounts and giving them away to whomever he feels deserves it?

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The very idea was pooh-poohed by the hoi polloi who got swept along by the hopey changey siren song.

This sentence is a classic, Mike.

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[...] Aces analyzes Obama’s Robin Hood personality features. You know, redistribution of wealth and all that. [...]

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The saddest part of this is that the Secured Creditors gave in to this extortion and the Shareholders will get a hard thumping on their investment capital. Having pulled it off once, Team Obama will be encouraged to use the intimidation tactic against US Citizens and Business again. Screwing with the Banking industry and Shareholders establishes a very dangerous precedent.

We are a Nation at War but America’s greatest threat is Congress and Team Obama. If you can crash the Economy from within and by caveat of the most unscrupulous Legislature & President ever, you need not worry about another Terrorist attack. An inside job requires no one to sneak into the country or build bombs. When your currency has the value of toilet paper you have destroyed a nation. When your career politicians and officeholders are corrupted by the power to spend without limits, intimidate industries, “regulate” beyond the scope of their employment, Al Q and Foreign enemies can just sit back & wait for America to collapse without firing a shot.

Civil unrest will follow and “Emergencies” will be declared. Crisis creation seems to be Team Obama’s tactic of choice. The Market is a self correcting entity as long as it is held to current law and is not fooled with by Fools.

You can’t lay this on Bush. 53% of the most uneducated and ill-informed American voters in American history handed the Treasury to Thugs & Punks and placed the most un-qualified, subversive President ever into Office so keep your idiotic Bush bashing comments to yourself.
If the Government lasts into the 2010 Elections, I will be surprised. Making Americans fear their Government has consequences. By bullets or ballots this will be resolved. I’m hoping for the latter. Having been deployed to places where Governments failed and Order ceased to exist,
I’m hoping for the latter.

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Amazing how we the people have not surrounded the white house and the treasury buildings and demanded that these men come out with their hands up!

We sit by and let it happen. I can’t wait for the food shortages and all the idiots who voted for that one are starving.

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