Vultures circling over U.S. automakers – Game Plan to destroy the United Auto Workers
Wall Street and private equity vultures are back. They are aided and abetted by Republicans and their media well designed and orchestrated campaign to kill United States States' largest employer – General Motors, Ford and Chrysler. The vultures are interested in the cause of deliberate bankruptcies for all equity options and ownership of the UAW in the respective companies turn worthless, the liabilities of pension funds partly or wholly avoided, compensation grants reduced substantially due to lack of funds, and companies stripped of their legal obligations with court approval, purchased by the bankruptcy court in a song.
Officials from the Fed, Treasury, the Office of the President, and the hosts of GOP senators want to mainly review the events United Airlines, WorldCom, Bethlehem Steel and most recently Lehman Brothers, all of which were allowed to go bankrupt to the detriment of all workers and employees.
United Auto Workers Destroy ..
REASON, all these companies were partly or most property of employees or workers, used to act as eyeshore "pumping the runners in the Wall Street and private equity firms predators.
The courts of the United States also benefit predators. Companies also award to the vultures, by refusing to let the company liquidated compulsory but delivery of bonds or bond holders to permit the cancellation of the capital of the whole society, so that employees are not left with all the power of money.
The whole system sucks – since monetary policy (Federal Reserve and the Treasury) for politicians (senators and representatives), executive (President) for the arm of the Judiciary (Courts) – All damaged by the suction cups are beating Wall Street using their orchestrated media – in print or television. Day in, tune in to CNBC, NBC, Fox News, CNN, CBS or read The Wall Street Journal, Barron's, Business Week, Forbes, all praise such actions in the name of saving the company and the application cost savings.
Even today, questions are asked – why was he allowed Lehman Brothers to fail? Why not Merrill Lynch, Bear Stearns, Morgan Stanley, Goldman Sachs or even? What is so common in the remaining four and one at Lehman Brothers? The answer is LHB was used majority ownership. The employees or workers are treated as disposable diapers in the United States, regardless of the exterior facade to describe them
What happened to United Airlines in the recent past only ..
Why United Airlines was allowed to fail and thrown the bankruptcy court – because they are mostly owned by employees. All shares were reduced to zero by the bankruptcy court and granted the company to holders of deliberately bought debt claims to exercise control. The lifetime savings for all employees were lost in an instant as the homes destroyed in wildfires California.
Debt holders were given the new capital on more favorable terms and the reduction of all previous actions to zero. If the company is still worthwhile, the question arises why the AU was not placed on the auction block in the open tender or why not sold piece by piece to consider the best value? Stocks owned by employees were reduced to zero and people granted to the holders of debt in exchange for debt rose to $ 49 from just less than a few cents. This is the practice of American capitalism where workers' rights are abused legally with full benefits Fed the Treasury, the president, senators and representatives, and courts the right to Supreme Court Justice.
substantive All in the name of free enterprise, freedom, capitalism, the efficiency of capital markets, and similar adjectives. They nvent new names, phrases or synonyms from Roget's Thesaurus.
Wall Street Brokers and Jeers Cheers for the loss of other jobs and People
When a company merges or taken by predators, the announcements are made to lay off thousands of employees in the name of the exercise to reduce costs and increase profits. Wall Steet Brokers Goldman Sachs, Morgan Stanley, Smith Barney, UBS Merrill Lynch, and across the line, applaud such actions and start shooting to recommend to the respective populations by 10% to 50% in a few days. While thousands of dismissed employees living sleepless nights, crying until dawn how to meet the mortgage or tuition fees their children, the bastard brokers and investment bankers on Wall Street out to celebrate in high profile matches hitting wine or champagne glasses with shouts of "Cheers." They are interviewed on popular channels such as Bloomberg or CNBC anchors with joy on their faces. It could not have been better shameless spectacle.
Read each position in the past or mega merger, is the same gimmics all the time.
CONDEM Wall Street brokers and bankers investment of Guantanamo Bay …
Therefore, it is a celebratory event that finally the brokers of Wall Street saw what they deserved more. Thousands of Wall Street brokers are being laid off in the worst crisis of its history it was her own decisions. They now realize how feels to lose a job – celebrating with a glass of wine or a glass full of tears of their loved ones. There should be compassion for all these bankers, investment bankers and brokers – must be condemned and sent to Guantanamo Detention Center. Osama Bin Laden may have caused the pain only once – 911. However, these corridors Wall Street, banks and investment banks are the financial terrorists that cause more pain every day for every family in America.
$ 218 billion Paulson AIG charity to help pay Goldman Sachs, his former employer?
And look at the perfidy of Hank Paulson Treasury Secretary and Ben Bernanke (Fed Chairman), who have poured billions, even trillions of dollars in failed banks and brokers for losses their weapons on the high seas have never contributed any employment taxes or the local American Taxpayers. They never asked why or justified offshore obligations of banks have suddenly become the responsibility of the domestic U.S. that have nothing to do with the independence of the Coast operations of these companies deceased.
Paulson And why pay $ 89 million $ 129 + billion to AIG? Because AIG may pay fees at Goldman Sachs (wild guess is $ 20 billion to $ 70 billion), a firm who was President Bush before joining. However, President Bush is so blind that you can not see the naked truth
"Devils donation tax dodgers and refusal to pay domestic taxes Corporations.
They're giving hundreds of billions of dollars to "void Banks Assets possible recovery" of the obligations of its offshore operations, in order to tax evaders. is the same band refuse to pay even $ 25 billion to 3 automakers – General Motors, Ford and Chrysler, who have been paying hundreds of millions of tax for over 60 years that have created more than 2 million jobs that have hard assets, which developed thousands of municipalities, which became in the backbone of American industrial expansion.
United Auto Workers can go full force to demand full justice and ensure that all past excesses defeating because of work, put to rest. It's now or never for them.
NO, this stubborn Paulson and Bernanke say. And Senators Republicans join them – do not give them $ 25 million – are inefficient. If these three automakers do not, and three million Americans are fired, causing $ 12 billion per month for unemployment benefits "that is more than $ 144 billion a year, if we consider the recent extension granted by President George W. Bush. The simple arithmetic – lose $ 25 billion now with full assurance of repayment or lose $ 144 billion a year and not reimbursed to the provision of only unemployment, loss of revenue if they were gainfully employed are not even counted.
Thieves and Scoundrels Rule U.S. now …
There is no doubt that the thieves and scoundrels have taken control of the colorful American, who becomes now in black and white – the first Black president to take over the White House.
The country is in a tailspin. There could be riots, the strong protests, riots, looting, murders, real blood bath in the main streets of America, if not taken steps to mitigate the attack on Wall Street on Main Street. Can you imagine what happens when 52 000 employees of Citi Group and more than 2 million direct and indirect employees of 3 automakers are suddenly thrown in street!
It just defies common sense – how is that these personalities in the White House are investing hundreds of billions dollars in the breakdown of operating costs in form of an advance of 100% unsecured while denying relatively small, but fully secured $ 25 thousand million to the industry's largest U.S. home – Manufacturers of automobiles. The present rulers have gone absolutely crazy, just crazy, just crazy.
Kalidas, Hong Kong
Ref: vultures prey 0811-016 U.S. Automakers
About the Author
The author is from Hong Kong. He is finance professional having 36 years of experience as banker, stock broker, bond trader, convertible bond specialist, economist and practical solution finder for any kind of financial problem. He is author of new book (yet to be published) called “Sub Prime Resolved” which is a bible of economic recovery of United States of America. The author claims that at this moment, he is the only person in the world who has the complete solution for the current economic mess.
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