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Chrysler Fiasco Another Reason to Buy a ToyotaSo let me see if I have this correct: The American workers who just dumped billions of dollars of their tax money to bail out Chrysler earn a median income of approximately $40,000 per year. After the bailout money is given to Chrysler, Obama strong-arms the non-conforming creditors (under threat of media press-corp retaliation, which we know our new president can deliver with less than a wink and a nod) into accepting a deal that then delivers 55% of Chrysler's value to the labor union that gave $5 million to Obama's campaign. So the UAW receives preferential treatment over the secured creditors simply as a political favor, and it's being paid for by folks who earn just over half of the salary of the typical UAW worker. Or, to put it another way, the average American worker just funded the purchase of a 55% stake for UAW workers who are already making 50% more on an annual salary basis than those who just bailed them out. This is unbelievable. It's a government of thugs, by thugs, for thugs. I know what brand of car I won't be buying next. I hope Chrysler's stock goes to zero and stays there until the national debt is paid off. Editor - bethesite.com
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