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Name: David-VRWC
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Bankrupt GM to spend 2 Billion

Government strong-arming meets shell-game money juggling as the Obama Administration is attempting to push through and finance the take over of the bankrupt Delphi auto parts supplier through GM to the benefit of their chosen company, Platinum Equity, and at the expense of Delphi investors and the US Taxpayer. General Motors, who filed for bankruptcy and is receiving a 30 billion dollar government bailout “loan” is going provide a couple billion dollars of our money to pull Delphi out of bankruptcy so that a California firm can buy Delphi Corp. Subverting bankruptcy law and paying some lenders only 20 cents on the dollar on behalf of the government controlled GM, the government declared that Platinum was the only company who could take over Delphi. Judge Robert Drain disagreed with the Obama administration and said “Unless I hear more, there’s something going on here that doesn’t to me make sense.” It makes sense if you understand that when Obama said "What we are not doing - what I have no interest in doing - is running GM”, what he really meant we are interested in running not only GM but anything else we can get our hands on while redistributing wealth from the legitimate owners and investors whenever we can.

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