Yet, over Republican objections, the president abused a fund established to aid troubled banks to bail out GM and Chrysler. To reward autoworkers for campaign support, he confiscated private property by awarding 55 percent of the stock to the union health care trust instead of Chrysler’s creditors as U.S. bankruptcy law requires. He rewarded Wall Street bankers who supported his campaign with new lending regulations that help them acquire regional banks. Now, more than half of the nation’s deposits are concentrated among a handful of Manhattan casinos, middle class Americans can’t get decent rates on savings, and small businesses can’t get adequate credit. Obama imposed other regulations in manufacturing and energy production that reward his constituents, punishing his opponents and slowing growth in an economy increasingly challenged to create enough well-paying jobs. Prior to the Affordable Care Act, every major piece of social legislation was accomplished by seeking a bipartisan consensus. nation.foxnews/2013/10/02/ideological-crusade%E2%80%99-%E2%80%A6-ransom%E2%80%99-%E2%80%A6-rooting-failure-mr-president-you%E2%80%99re-just-responsible
Posted on: Wed, 02 Oct 2013 21:02:30 +0000
Trending Topics
Recently Viewed Topics
© 2015