ISMagazine.com - Patrick Stevens
In recent times, the Obama Administration has remained on a complete-court onward spiral to sell Americans on the ideas concerning bailouts for auto dealers, begun by its forerunner however augmented into politically schemed insolvencies by the present White House Administration. In the previous week, President Obama welcomed Chrysler’s declaration about the fact that the bailouts had been paid back – devoid of mentioning that the payment derived from additional Government loans to Fiat, and that the Presidential Administration has before now pardoned four billion dollars’ worth of loans to the auto dealers. In the recent days, Tim Geithner, the Treasury Secretary for the Government, did some additional spiraling in a thesis paper for the Washington Post, asserting that each bailout had resulted in a rebirth of Detroit jobs: