Shocking crime in Detroit

Remember that failed, cash starved shell of an automobile company that Obama bailed out with 50 billion of your hard earned tax dollars?  Rather than let GM, its well paid "workers", comfortable retirees, and millionaire managers go down with their ship, Barry forced you serfs to buy the smoldering remains of the once proud automaker.

Of course, even with a corrupt Car Czar in charge, Government Motors continued to swirl down the economic toilet.  Working to double the price of gas didn't help, either.  Now, counting on you ignorant peasants to forget the story well before next year's election, Engine Barry is about to sell your GM stock for $11 billion less than you paid for it.  J. Robert Smith reports:

Why would Mr. Obama want to dump GM stock for a huge loss now?  Why not hold GM stock until the government can at least recover taxpayers' money?  The answer is that GM stock prices may be heading south, not north, in the coming months.  According to a Wall Street Journal report, Mr. Obama may have decided to get out of GM while the getting isn't wholly disastrous.  

Government officials are willing to take the loss because the Obama administration would like to sever its last ties to the auto maker, the people familiar with the matter said. A summer sale makes it more likely Treasury could sell all of its stake in GM by year's end, avoiding a potentially controversial sale in the 2012 presidential election year.  [Italics added]

For Mr. Obama's presidential re-election effort, a "potentially controversial sale [of GM stock] in 2012" could translate into a damaging political liability.  Mr. Obama and his handlers would rather have the bad news of a huge GM taxpayer dollar loss come now.  Time and events, the thinking goes, could mitigate the political damage to Mr. Obama.

The administration could not have believed the bailout would save GM.  No sane person would.  The incalculable damage this deal has done to our economy, and our society, was the real goal.