Once, We Would Have Called It a Scandal

In 1921, oil tycoon Harry Sinclair gave several prize head of cattle and around $269,000 to President Harding's Secretary of the Interior, Albert Fall.

In return, Sinclair got the exclusive rights to drill in an oil field in Wyoming. Sinclair's no-bid contract became the Teapot Dome scandal, the most notorious example of political corruption in America prior to Watergate.

Between 2000 and 2008, the United Auto Workers (UAW) union gave $23,675,562 to the Democratic Party and its candidates.

In 2008 alone, the UAW gave $4,161,567 to the Democratic Party and Barack Obama.

"At a Time When Some American Workers are Facing Stiff Pay Cuts, UAW Workers Gave Up Their Customary Paid Holiday on Easter Monday"

In return, the UAW received 55 percent of Chrysler and 17.5 percent of GM, plus billions of dollars.

"Never Has an American Union Done So Well At the Expense of Shareholders and Creditors"

But nobody's calling this a scandal.

"The issue of secured creditors' rights is bigger than Chrysler. It's an essential foundation of our capital markets. And fundamentally, this is about the law."

It's time we start.

READ MORE

image toon - sclm bbro auto = How goes GM goes the nation...