You can’t make this stuff up!
– Obama’s Master Plan: Bailout Everyone (ZeroHedge, Aug 9, 2012):
A 40% loss of post-IPO market-cap, channel-stuffing largesse, contract-law destruction, and all with tax-payer backing. That is what the Bailout’er-in-chief has in mind for every manufacturing company in the US. As Politico reports this evening, President Obama gave a speech we think rivals his ‘you didn’t build it’ miasma as he alienated foreigners, encouraged socialized losses, and suggests bailouts for any and all. “I said, I believe in American workers, I believe in this American industry, and now the American auto industry has come roaring back,” (cough – down 43% – cough) he said. “Now I want to do the same thing with manufacturing jobs, not just in the auto industry, but in every industry.”