Just a day after the wrecking crew of Chris Dodd & Barney Frank announced their economy shattering new financial legislature set to doom the already shaky private sector, the dynamic duo, known around town by cocktail waitresses as "Gay" and "Not So Gay", announced their latest scheme to plunge the government's car company, GM, into deeper financial debt and insane risk taking.
The "Dodd/Frank Car for Every Crack House" bill was just passed in Congress enabling GM, which owes the American Taxpayer over $62 M for the recent bailout, to make an ALL CASH purchase of $3.5b for sub prime lender Americredit as GM CFO Tony "Dufus" Stompanato's claims echoed Dodd & Frank's mandate that 'every American should own a car, whether they can afford it or not," a phrase eerily reminiscent of Frank's crowing prior to the monumental housing collapse where he fought off GOP efforts to bring the run away financial mortgage insanity under control.
Industry watchdogs say the scheme is targeting people with no income, no jobs, no citizen ship, no insurance and no driver's licenses in order to boost their market share over Ford, which is doing quite well, and did not require a tax payer bailout due to superior management which entailed hiring people who understood business and had not graduated from Harvard, or worked as a union organizer with a name containing a series of vowels.
Buyers who default on their new car loans after just a week end when the vehicle was used in a drive by shooting, will not be liable for repayment, as the Financial Regulation Bill provides coverage to GM on any buyer who defaults, and under the Health Care bill, now known as Obamacare, illegal aliens without driver's license and insurance, will be covered if they injure or kill themselves going the wrong way on a one way street due to language
Innocent tax paying American Citizens involved in any accident with an illegal will be on their own, unless they buy a separate rider of $1,000 for 'uninsured motorist' coverage being offered by Felipe Calderon, Mexico's
current president presiding over mass murders in the country controlled by Narco Dictators.
Investigators of financial fraud at the Security and Exchange Commission, SEC, say they give the deal 'at least till November 15' just after the midterm
elections, before the government will have to step in and bail them out.
Obama officials have gone on the offensive calling anyone questioning the
fiscal responsibility of the purchase 'Racially Insensitive.'