Not that any of us needed further proof to show how biased the media is to the left, today we saw yet another example.
I was flipping through the TV channels and came across New York Governor, Andrew Cuomo, standing at a podium.
He was going on and on about how great President Obama and the federal government has been in helping in the aftermath of hurricane Sandy, and how everything is running smoothly.
You would think this was a good story, wouldn't you? Except we had just gotten off the phone with our son who still lives on Long Island. He told us a much different story. They have no power, no water, their food is running out, and you can't get gasoline anywhere.
The National Guard are stationed at gas stations to keep the peace. People are looting stores, and stealing gas from people's gas tanks at night. People on blocks are forming watches, and are arming themselves. People are fighting to get on buses in NY city. The situation is deteriorating rapidly there and on Long Island. My son said this is what it must be like living in Bosnia! It's almost like those movies you see in the aftermath of a nuclear war.
So, someone please explain to me why the media can't report events honestly. Where has their integrity gone? They excoriated President Bush for hurricane Katrina, but Obama walks on water as far as they are concerned. I wouldn't believe anything in the media any longer, even if it came notarized!
Stealing GM for the Union
The public has not been made aware of the truth of the give away to General Motors (GM) to the auto union by Obama. Obama arranged to transfer ownership of 17 percent of the stock of GM to the auto union. Thus the union has majority control of GM.
In the corporate world there are two types of obligations (1) secured claim and (2) unsecured claim. A secured claim is an obligation that is backed by a mortgage type lien on debtor's property. An example of this is a loan of money to the corporation called a bond, ownership of stock in a corporation, is also a type of secured claim, based upon ownership of stock in the corporation.
Unsecured claims make up all other types of obligations of a corporation and are not backed by any type of lien; an example is a money debt.
GM was on the verge of filing bankruptcy reorganization when Obama took over control of GM. He set his own rules for control of GM and disregarded the rules of bankruptcy and of law.
Normally in bankruptcy reorganization, secured claims are not usually affected. In this instance bond holders who loaned money to GM were secured claims and the same goes for individuals who owed and paid for stock in GM.
However, unsecured claims can be wiped out or reduced, whereas secured claims cannot be wiped out in bankruptcy. Obama did not follow the rules of law, he followed the rules of cheap politics. He wiped out all of the secured bond holders who loaned GM billions of dollars. He also wiped out all of the stockholders of GM who were mostly individuals who paid billions of dollars to buy GM stock.
Obama then had GM issue new stock and from the new stock issued, he gave 17 percent of the total stock issued to the auto union, instead of the payment of money in the future which gift made the union a majority holder of GM stock and gave the union full control over GM.
The reason for this gift of stock and control of GM for and by Obama, was "political pay back" to the union for giving Obama $163 million for his 2008 election and for their 100 percent support of Obama by the union and its members.
Obama wiped out all of the preferred bond holders as well as all of the stock holders of GM, all of whom lost their investments of billions of dollars. The same relief could have been given GM by a government loan by going through reorganization bankruptcy, which would not have wiped out the stockholders and bondholders, who lost billions and thus avoid giving control of GM to the unions.
I wish to express my sincere thanks and appreciation to Mr. Len Tria for his Oct. 7 column titled, "I am furious over this." He commends the Spanish language news network Univision for exposing the ongoing deadly consequences of the Fast & Furious debacle in their documentary which aired Sept. 30.
Mr. Tria juxtaposed Univision's tremendously complex, multi-layered investigative reporting with our attention deficit, tickle-your-ears media. In fairness, CBS did break the story in February, 2011. (Agent Brian Terry was murdered Dec. 14, 2010). Since then, the main-stream media has circled their wagons in a code of silence.
Along with Mr.Tria, I too am furious. Thousands of weapons were put directly into the hands of violent high-level cartel thugs as guns were allowed to walk across the border. Translation: Attorney General Eric Holder knowingly facilitated the placement of weapons directly into criminal hands.
The Bureau of Alcohol, Tobacco, Firearms and Explosives enlisted (forced) the cooperation of gun shop proprietors who were told to sell the weapons to straw purchasers. However, their operations plan was missing a few details. The Mexican government had no knowledge of the operation. Many agents and gun shops expressed their very real concerns over and over. No one listened.
It is difficult to believe this was merely a "field-initiated" operation. From March 26 to April 16, 2009, Secretary of State Hillary Clinton, Department of Homeland Security Director Janet Napolitano, Holder, and President Obama, traveled to Mexico to meet with President Calderon and other high ranking officials.
On April 2, 2009, Attorney General Eric Holder addressed the Mexico/United States Arms Trafficking Conference. "Last week, our administration launched a major new effort to break the backs of the cartels. My department is committing 100 new ATF personnel to the Southwest border…"
On April 16, 2009, President Obama personally met with President Calderon to discuss stopping the flow of drugs and weapons.
So there you have it. The Fast & Furious ground work was laid and the bogus "90 percent of the guns used by cartels comes from America" message put forth so that if the U.S. could just stop its firearms dealers from illegally selling weapons to the cartels the problems would be solved.
Our administration deliberately chose to frame and blame law-abiding American citizens for the powerful international drug cartels who summarily executed 34,000 Mexicans in a four-year period. Why would our Administration do that? To restrict our individual 2nd Amendment right to keep and bear arms – that's why.