This is the case of Chrysler lenders - with secured loans - being screwed over and intimidated by Obama in favor of unsecured lenders, the UAW. It's a mugging pure and simple.
Exhibit B: Obama Tries to Stop Union Disclosure
In a nutshell - unions won't have the disclosure requirements for how they spend their member's dues. There are non-profits that have a use on this planet that have to report more detailed info than these gangster run unions.
So California - being this biggest entitlement state in the US - is having a budget crisis. A big one. So part of their efforts at balancing the budget included cutting the wages of some employees. Of course, these are Unionized workers, so Barack "Che" Obama has stepped in and is once again strong arming on behalf of the unions. And completely stampeding states rights in favor of his One Big Global Government ideal.
And finally, for today, in addition to strong arming anyone that gets in the way of his Union buddies (you know the ones, "Rocko", "Sticky Fingers", "Big Nose", "Fat Tony" and the rest) - now he's doubling his army of tax enforcers. Sheriff of Nottinghams if you will.
I'm no Oracle but even I can read these tea leaves (sorry for the mixed metaphor).
The USofA I grew up in is not going to be the same one that my little girls will get to enjoy.
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