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America, the land of the free and where we bail out companies with taxpayer money and convicted felons get elected to public office.
Convicted eight times for felonies and endorsed by his pastor Mark Holloway at Peace and Goodwill
Missionary Baptist Church in Detroit, as well as a large variety of unions, Brian Banks was elected on Tuesday to represent his district in Detroit.
“He is an educator, law graduate, community
leader and visionary. Brian Banks has risen to prominence in spiritual,
community and academic arenas – against the odds,” his site says. He has a big ego and a gift of persuasion just like our President.
Read more...at CBS Detroit.
In Michigan, it all boiled down to the auto industry, convicted felons or not and all those people receiving public assistance in a city with probably the highest unemployment in America who were afraid that Romney would actually create jobs. President Barack Obama was the winner of the 16 electoral votes there — the state that benefited the most from the auto industry
bailout with Ohio next with 18 electoral votes.
Mitt Romney's position was that "these companies need to go through a managed bankruptcy, and in that
process they can get government help and government guarantees, but they
need to go through bankruptcy to get rid of excess cost and the debt
burden that they'd built up." The average middle-class voter did not understand this--they only understood their fear of the word "bankruptcy," losing jobs or being removed from welfare roles. Obama quipped, "If we had taken your advice, Gov. Romney, about our auto industry, we'd
be buying cars from China instead of selling cars to China." His political line stuck with the auto industry workers and Michigan in general. Obama was "one of them."
According to Forbes:
"Chrysler: repaid $9.2 billion, fulfilling its debt
obligations to the U.S. and Canadian governments, and
is now owned by
Italian automaker Fiat (58.5%) and a health care trust for UAW retirees
(41.5%). Overall, taxpayers lost $1.3 billion on the Chrysler bailout.
In full recovery mode, Chrysler is currently the fastest-growing
car maker in the world.
GM: repaid $23.1 billion of the $49.5 billion it got
from the U.S. Treasury, including all of its outstanding loans. But
Treasury still owns 500 million shares, or 32%, of GM stock. To recoup
its full investment, GM stock needs to hit $52.80 per share. It’s
currently trading around $21. GM also received a $106 million matching
grant to build a battery factory in Brownstown, MI, where it is
assembling battery packs for the Chevrolet Volt plug-in car using cells
imported from Korea.
Battery-maker A123 Systems, desperate for money, fell into the hands of a
Chinese auto supplier. Another, Ener1, went bankrupt and is now owned
by a Russian business tycoon."
Go to
Forbes and read who still owes the government. Obama, even if he completely understood Romney's position never would have admitted it--this was political opportunism and instead he used it to his advantage and placated to the workers and the Unions and a convicted felon gets elected in Detroit, one of the highest unemployment rates in the nation. The felon will show them the way just like Obama will.
When companies get handouts, individuals expect the same. Misguided government programs can and have thwarted economic
recovery from implementing high taxes on businesses struggling
to survive. The result in the 1930's was widespread unemployment for the entire decade.
It was that fear of being cut off from receiving "free stuff" and the false fear that Romney didn't care or understand the average citizen that re-elected Obama. In the end, it didn't matter about jobs or taxes; all that mattered was their belief that Obama would take care of them.