Imagine a South American dictator decided to seize a company, declaring nationalization to be in the vital interest of the people. Imagine, furthermore, that control of the company was turned over to his cronies, and that said dictator voided all previous contracts the company held, declaring himself above the law. Furthermore, suppose said dictator demonized the previous owners of the company, accusing them of exploiting the workers to satisfy their own greed.
The above is more or less what B. Hussein Chavez is in the process of doing to Chrysler.
- Under the Government’s takeover plans, 55% of Chrysler will be owned by a wing of the Democrat Party called the UAW. Other unionized auto companies will have to negotiate labor contracts with the owners of one of their competitors.
- B. Hussein Obama is forcing Chrysler’s creditors to accept pennies on the dollar for the money they invested in the company. In violation of written contracts that say these creditors get paid first, B. Hussein Chavez is telling them to get to the back of the line and accept the terms he is forcing on them, and threatening them with repercussions if they don’t quietly accept his edicts.
- B. Hussein Chavez goes further, demonizing those who loaned Chrysler money as “a group of investment firms and hedge funds [that] decided to hold out for the prospect of an unjustified taxpayer-funded bailout.”
“Banks have to give priority to financing the industrial sectors of the country at low cost,” Obama said. “[We have to] get all the banks to work for the development of the country and not to speculate and produce huge profits.”
Oh, wait, that wasn’t Obama. That was Hugo Chavez.
It’s getting harder and harder to tell them apart.