Union Czar 'Bristles' as Sun Shines on Detroit Deception of $30 Billion Loss

It's interesting enough that the New York Times has a story on the shell game of Government General Motors repaying its taxpayer loan with taxpayer money, but even more interesting is the Union Manufacturing Czar Ron Bloom's [emphasized] reaction at being exposed:

“The public would know nothing about the TARP escrow money being the source of the supposed repayment from simply watching G.M.’s TV commercials or reading Treasury’s press release,” Mr. Grassley said in a speech on the Senate floor last Wednesday, saying that “many billions” of federal dollars remained invested in G.M. 

“Much of it will never be repaid,” Mr. Grassley added. “The Congressional Budget Office estimates that taxpayers will lose around $30 billion on G.M.” 

[snip] 

And Ron Bloom, senior adviser to Mr. Geithner, bristled at Mr. Grassley’s criticism. “The Treasury Department has tried to be as straight as humanly possible,” he said in an interview. “We have never not been clear about exactly what we paid, exactly the terms of the investment. I’m finding it hard to find anyone obfuscating about this.”

He 'bristled'???

As the Times points out: Taxpayers still own $2.1 billion in preferred stock of G.M. and almost 61 percent of its common equity.  

If taxpayers are being repaid with their own money, shouldn't the taxpayers be the ones bristling, Mr. Bloom?

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“I bring reason to your ears, and, in language as plain as ABC, hold up truth to your eyes.” Thomas Paine, December 23, 1776

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Is Manufacturing Czar Bloom a Bloomin' Maoist Too???

Is Ron Bloom a blooming Maoist?

It seems that the late Mao Zedong has become something of an idol in the Obama Administration.

First, White House Communications Director Anita Dunn tells an audience one of her two favorite political philosophers is China's late Communist leader and mass murderer Mao Zedong.

Now, we come to learn that President Obama's Manufacturing Czar Ron Bloom may also be a Mao fan as well.

Below is an excerpt from a speech entitled Asserting The Union Position In Restructurings -- Steelworker Style, which was delivered at the 6th Annual Distressed Investing Forum held at the Union League Club (NYC) on February 27-28, 2008.

Is it just us, or does there seem to be a few too many mentions of Mao coming from people in the Administration lately?

Hat-tip to Kathy at the Examiner.

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OBAMA NAMING UNION GUY IN CHARGE OF AMERICA'S MANUFACTURING IS LIKE PUTTING DRACULA IN CHARGE OF COLLECTING BLOOD

Putting a union commissar in charge of America's manufacturing policy is like putting Dracula in charge of blood collections. Yet, that is exactly what President Barack Obama is doing today (Labor Day) when he names former United Steelworkers' honcho Ron Bloom to become America's Manufacturing Czar or, in politcal parlance, Senior Counselor for Manufacturing Policy.

Already serving as one of Obama's Car Czars, Bloom is known for pushing the US automakers, General Motors and Chryster to draft out questionably viable plans for the future and pushed the CEO of GM to resign.

It should also be noted that Bloom & Co. also crafted the tax-payer funded bailout of the auto industry, which included the controversial bypassing of esablished bankruptcy law and putting the UAW in front of other creditors.

Given unions' track records (see union graphic at right) in causing the demise of so many industries, not the least of which are the auto, steel, and textile industries, as well as the closure of tens of thousands of unionized companies, the decision to put a union activist in charge of the nation's manufacturing policy seems akin to putting the fox into the henhouse or giving Dracula the job of collecting blood.

According to a statement posted on ABC News, President Obama states:

“Last week we learned that our manufacturing sector expanded for the first time in 18 months and had the highest monthly output in two years. It’s a sign that we’re on the right track to economic recovery, but that we still have a long way to go. That’s why I’ve asked Ron Bloom to help coordinate my Administration’s manufacturing policy. Distinguished by his extraordinary service on the Auto Task Force and his extensive experience with both business and labor, Ron has the knowledge and experience necessary to lead the way in creating the good-paying manufacturing jobs of the future. We must do more to harness the power of American ingenuity and productivity so that we can put people back to work and unleash our full economic potential.”

Bloom's statement:

"A strong manufacturing sector is a cornerstone of American competitiveness and a critical part of President Obama’s economic strategy. As we meet the challenges of globalization and technological change, it is vital to have a concerted effort across the Administration to support an innovative, vibrant manufacturing sector.”

The appointment of Bloom comes a mere two days after the ignomonious resignation of Van Jones, Obama's Green Jobs Czar.