Governments Will 'Bankrupt Us'
http://www.lewrockwell.com/faber/faber60.1.html
Understanding What the Fed Is Doing to Us
http://www.lewrockwell.com/orig11/pollaro2.1.1.html
--------
Gangster Government becomes a long-running series
National Review
by Michael Barone
04/22/10
Almost a year ago, in a Washington Examiner column on the Chrysler bailout, I reflected on the Obama administration’s decision to force bondholders to accept 33 cents on the dollar on secured debts while giving United Auto Workers retirees 50 cents on the dollar on unsecured debts. This was a clear violation of the ordinary bankruptcy rule that secured creditors are fully paid off before unsecured creditors get anything. The politically connected UAW folk got preference over politically unconnected bondholders. ‘We have just seen an episode of Gangster Government,’ I wrote. ‘It is likely to be a continuing series’...
http://tinyurl.com/34mp8s6
Informant: Thomas L. Knapp
http://freepage.twoday.net/search?q=Obama
http://freepage.twoday.net/search?q=bailout
http://freepage.twoday.net/search?q=bankrupt
http://freepage.twoday.net/search?q=Federal+Reserve
http://freepage.twoday.net/search?q=UAW
http://freepage.twoday.net/search?q=Marc+Faber
http://freepage.twoday.net/search?q=/faber
http://freepage.twoday.net/search?q=/pollaro
http://freepage.twoday.net/search?q=Michael+Barone
Understanding What the Fed Is Doing to Us
http://www.lewrockwell.com/orig11/pollaro2.1.1.html
--------
Gangster Government becomes a long-running series
National Review
by Michael Barone
04/22/10
Almost a year ago, in a Washington Examiner column on the Chrysler bailout, I reflected on the Obama administration’s decision to force bondholders to accept 33 cents on the dollar on secured debts while giving United Auto Workers retirees 50 cents on the dollar on unsecured debts. This was a clear violation of the ordinary bankruptcy rule that secured creditors are fully paid off before unsecured creditors get anything. The politically connected UAW folk got preference over politically unconnected bondholders. ‘We have just seen an episode of Gangster Government,’ I wrote. ‘It is likely to be a continuing series’...
http://tinyurl.com/34mp8s6
Informant: Thomas L. Knapp
http://freepage.twoday.net/search?q=Obama
http://freepage.twoday.net/search?q=bailout
http://freepage.twoday.net/search?q=bankrupt
http://freepage.twoday.net/search?q=Federal+Reserve
http://freepage.twoday.net/search?q=UAW
http://freepage.twoday.net/search?q=Marc+Faber
http://freepage.twoday.net/search?q=/faber
http://freepage.twoday.net/search?q=/pollaro
http://freepage.twoday.net/search?q=Michael+Barone
rudkla - 23. Apr, 08:36