"A Nation with a Government, not a Government with a Nation"

"A Nation with a Government, not a Government with a Nation"

Thursday, 21 May 2009

We the People want BIG cars and CHEAP gas....

I am waiting to see how this unfolds, government enters private sector(automotive), forces company to build the cars it says, no one wants/buys these "mandated," cars, other "wanted," car prices are increased to subsidize the "non-wanted," cars, and then gas is taxed higher to force more purchases of the mini-do-da hybrid tin cans.....THIS is where it will get interesting as ALL Americans will come out of the woods to protest this....the "Saviour," will need a miracle for that....should be better than American Idol (oh I haven't seen that anyway).

Well, well ya don't say....


Wednesday, 20 May 2009

Pitiful President

I am a true-blooded American and take insult of our nation to heart but I have come to the point that must say we have a "pitiful President."
Obama presidency summed up in two sentences....Vasko Kohlmayer.
A well-put summary of Obama's presidency from Heritage:
By cloaking his domestic agenda in terms of economic recovery, President Obama and his team of liberals have been able to pass the largest spending bill in history, repeal welfare reform, set us on the course to socialized healthcare, advance a very costly energy policy, impose high costs on productive people, and enact unprecedented expansions of governmental power. Furthermore, by cutting the defense budget and ordering the closing of the detention facility at Guantanamo Bay, the President demonstrates his complacency toward national security and undermines our ability to respond to future attacks.

Tuesday, 19 May 2009

Monday, 11 May 2009

New Bills in the House...You decide and write your Represenatives

New Bills in the House...You decide and write your Representatives; Mine...Red-Bad Green-Good

H. R. 2289. To establish a meaningful opportunity for parole or similar release for child offenders sentenced to life in prison, and for other purposes. from a Rep.Mr. Scott from VIRGINIA!!!!!

H. J. RES. 50 Proposing an amendment to the Constitution of the United States relating to marriage. Article-- Section 1. This article may be cited as the `Marriage Protection Amendment'. Section 2. Marriage in the United States shall consist only of the union of a man and a woman. Neither this Constitution, nor the constitution of any State, shall be construed to require that marriage or the legal incidents thereof be conferred upon any union other than the union of a man and a woman.''

H. J. RES. 51 Proposing an amendment to the Constitution of the United States to permit the penalty of death for the rape of a child.

Cheney: Obama endangers the nation; BUT remember He's HIP!


Thursday, 7 May 2009

News on the Chrysler Saga

Thanks to who sent this to share...

This weekend there was some very interesting information about the Chrysler bankruptcy in Barron’s. This past week we had a lot of news about some debt holders not agreeing to the plan and holding out for more money and this forced Chrysler to file for bankrupt. I think that is a true statement but as with everything today not the entire story. When you have many groups holding debt of a company the debt holders are generally placed in similar groups as they would be in bankruptcy court.
Chrysler has four different groups of debt holders, 1st lien holders, 2nd lien holders, 3rd lien holders and unsecured. The group that should get the largest percent recovery is the 1st lien holder and each group there after getting a smaller percent. The unsecured holders may get nothing or a very small percent of their debt in a bankrupt court. The plan that was rejected shows the 1st lien holder with $6.9 billion and they were to get $2 billion (about 29 cents for each dollar of debt). The 2nd Lien holders had $2 billion and were getting nothing. The 3rd lien holder had $4.3 billion and they were to get 8% equity in the new company. The unsecured was $10.6 billion and they were getting $4.6 billion plus 55% of the new company. As you can see the numbers are all over the place.
The 1st lien holder is secured with all of the plants, inventory, equipment, the Chrysler name. They are the physical Chrysler and if the company is liquidated they are first in line for money (this is a group of banks and hedge funds, mutual funds, retirement funds). The 2nd lien holder is Cerberus/Daimler and they had stated they were not looking for any money or ownership in the new company. The 3rd lien holder is the U.S. Government we loaned Chrysler $4.3 billion and we were to get 8% in the new company (the value of the new Chrysler is estimated to be $10.billion so our share would be $800 million). This is a loss of $3.5 billion of the money loaned to Chrysler. This is you and I. The unsecured creditor is the UAW and they were to get $4.6 billion note at 9% interest plus 55% of the new company about $5.5 billion in value. The UAW was due $10.6 billion and would get 10.1 billion plus interest. The UAW would get almost 100% of the debt owed. The only ones taking a loss are the secured creditors.
It will be very interesting to see how the Bankruptcy Judge handles this. If the company presents the same plan they could have a real problem based on pervious history. The decision is in the hands of the bankruptcy judge and we will see this unfold over the next 60 to 90 days.

Another good article from Newt Gingrich


Citizens Against Government Waste

Citizens Against Government Waste