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Dustin Sugasa

This is funny in that "totally-not-even-a-little-bit-funny" kind of way. As if the money that has been thrown at this isn't bad enough, the way the government has gone about it makes it even worse. Rewriting bankruptcy law by wiping out bondholders, only to make whole the UAW and give 70% ownership to the government is UNBELIEVABLE. The union has absolutely no legitimate claim to anything! How many American industries do the unions have to destroy before someone gets it? The taxpayers/government should get something for the money that has already been frivolously thrown at the problem, but they shouldn't just be able to change all the rules to make it happen because they fucked up in the first place. If this is allowed to go through and sets the precedent that the government can just do whatever the hell they want, then where does it stop? Social security? The FDIC? What if the government just said..."right...you know those bank deposits that you have that you thought were insured by the FDIC? Well, they aren't insured any more and we are going to just take them." Why should ANY piece of corporate, municipal, or sovereign debt that is "protected by US law" be worth anything right now?

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