{"id":16217,"date":"2012-11-04T18:06:15","date_gmt":"2012-11-04T23:06:15","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=16217"},"modified":"2012-11-04T18:06:15","modified_gmt":"2012-11-04T23:06:15","slug":"who-really-profited-from-the-auto-bailout","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=16217","title":{"rendered":"Who Really Profited From The Auto Bailout ?"},"content":{"rendered":"<p><a href=\"http:\/\/www.breitbart.com\/Big-Government\/2012\/11\/03\/REVEALED-Obama-Bundlers-Bagged-Millions-In-Auto-Bailout\">Breitbart.com<\/a> posted an article yesterday revealing some interesting statistics about the <a class=\"zem_slink\" title=\"Automotive industry crisis of 2008\u20132010\" href=\"http:\/\/en.wikipedia.org\/wiki\/Automotive_industry_crisis_of_2008%E2%80%932010\" rel=\"wikipedia\" target=\"_blank\">auto industry bailout<\/a>. <a href=\"http:\/\/g-a-i.org\/\">Government Accountability Institute<\/a> President <a class=\"zem_slink\" title=\"Peter Schweizer\" href=\"http:\/\/www.peterschweizer.com\/\" rel=\"homepage\" target=\"_blank\">Peter Schweizer<\/a> investigated the bailout to see where the money went and how much taxpayers actually lost.<\/p>\n<p>The article reports:<\/p>\n<p style=\"padding-left: 30px;\"><strong>The government\u2019s actions involving <a class=\"zem_slink\" title=\"Chrysler Group LLC\" href=\"http:\/\/companies.findthecompany.com\/l\/17917253\/Chrysler-Group-Llc\" rel=\"fdbcompanies\" target=\"_blank\">Chrysler<\/a> resulted in a net loss to taxpayers of $2.9 billion, and the government is currently sitting on a $14.5 billion loss for its actions involving <a class=\"zem_slink\" title=\"General Motors\" href=\"http:\/\/companies.findthecompany.com\/l\/18030048\/General-Motors-Company\" rel=\"fdbcompanies\" target=\"_blank\">General Motors<\/a>. But Mr. Schweizer says few Americans realize the backroom deals the Administration cut that created a flood of cash for well-connected <a class=\"zem_slink\" title=\"Barack Hussein Obama, Jr.\" href=\"http:\/\/www.biography.com\/people\/barack-obama-12782369\" rel=\"biographycom\" target=\"_blank\">Obama<\/a> cronies.<\/strong><\/p>\n<p style=\"padding-left: 30px;\"><strong>For example, the GM bailout was handled not by <a id=\"FALINK_2_0_1\" href=\"http:\/\/www.breitbart.com\/Big-Government\/2012\/11\/03\/REVEALED-Obama-Bundlers-Bagged-Millions-In-Auto-Bailout#\">automotive<\/a> experts but by New York investment firm <a class=\"zem_slink\" title=\"Evercore Partners\" href=\"http:\/\/www.evercore.com\" rel=\"homepage\" target=\"_blank\">Evercore Partners<\/a>. The firm is headed by Obama bundler and former Assistant <a class=\"zem_slink\" title=\"United States Secretary of the Treasury\" href=\"http:\/\/en.wikipedia.org\/wiki\/United_States_Secretary_of_the_Treasury\" rel=\"wikipedia\" target=\"_blank\">Treasury Secretary<\/a> <a class=\"zem_slink\" title=\"Roger Altman\" href=\"http:\/\/en.wikipedia.org\/wiki\/Roger_Altman\" rel=\"wikipedia\" target=\"_blank\">Roger Altman<\/a> and Obama mega fundraiser Ralph Schlosstein. GM paid Evercore $46 million in advising fees and billed the car company another $17.9 million for a \u201csuccess fee,\u201d despite the fact that Evercore never found GM a purchaser or funder.\u00a0<\/strong><\/p>\n<p>Unfortunately the unions and the political bundlers were the winners in the auto industry bailout. Had the auto industry been required to follow normal bankruptcy procedures as stated in <a class=\"zem_slink\" title=\"Chapter 11, Title 11, United States Code\" href=\"http:\/\/en.wikipedia.org\/wiki\/Chapter_11%2C_Title_11%2C_United_States_Code\" rel=\"wikipedia\" target=\"_blank\">Chapter 11<\/a>, those involved would have been forced to be accountable for the money they spent. The auto bailout is the poster child for crony capitalism&#8211;it is nothing to brag about.<\/p>\n<div class=\"zemanta-pixie\" style=\"margin-top: 10px; height: 15px;\"><a class=\"zemanta-pixie-a\" title=\"Enhanced by Zemanta\" href=\"http:\/\/www.zemanta.com\/?px\"><img decoding=\"async\" class=\"zemanta-pixie-img\" style=\"border: none; float: right;\" src=\"http:\/\/img.zemanta.com\/zemified_e.png?x-id=318f03cb-7cf3-47c3-967f-8efa5475d089\" alt=\"Enhanced by Zemanta\" \/><\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Breitbart.com posted an article yesterday revealing some interesting statistics about the auto industry bailout. Government Accountability Institute President Peter Schweizer investigated the bailout to see where the money went and how much taxpayers actually lost. The article reports: The government\u2019s &hellip; <a href=\"https:\/\/www.rightwinggranny.com\/?p=16217\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1993,97,500,4321,121,562,1325,4322],"class_list":["post-16217","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-automotive-industry-crisis-of-2008-2010","tag-barack-obama","tag-chrysler","tag-evercore-partners","tag-general-motors","tag-obama","tag-peter-schweizer","tag-roger-altman"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/16217","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16217"}],"version-history":[{"count":2,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/16217\/revisions"}],"predecessor-version":[{"id":16220,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/16217\/revisions\/16220"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}