Government Teat-Sucking Bankster, Steven Rattner, Calls Auto Bailout “Un-American”

I’m sure someone thought it was a good idea to trot out Steven Rattner to spin the government’s announced plan to sell its GM stake.

But I don’t know how anyone thought a bankster–and particularly this bankster–could say this and still wield any credibility.

From Washington’s point of view, divesting its remaining shares will end an uncomfortable and distinctly un-American period of government ownership in a major industrial company.

Sure. Rattner places this sentiment in “Washington’s point of view.” Still, consider the messenger.

After all, he barely mentions here–as he did in his book–that this was not just a bailout of some industrial companies. It was also a bailout of two finance companies, Chrysler Finance and GMAC (he mentions that the government still owns Ally/GMAC, but still calls the scorecard, “nearly complete”). As such, it was also the bailout of the Private Equity firm, Cerberus, that had spent the previous years stripping Chrysler in the hopes of retaining just the finance arms.

He also neglects to mention that the government still pursues the un-American policy of treating banks according to a different set of rules, not only providing them free money, but seemingly exempting them from all laws.

Finally, he shows no self-awareness of his own history, including paying kickbacks so his firm could make big money off of New York State (for which he, like all banksters, got a mere wrist-slap).

I’m not saying the government should hold onto its GM stake forever (though unlike Rattner, executive compensation is the last reason I’d cite to applaud this sale). But having someone like Rattner call government intervention in purportedly capitalist companies un-American only perpetuates the idea that industrial companies should have to abide by so-called rules of capitalism that the titans of capitalism, the banksters, have all but discarded.

Tweet about this on Twitter25Share on Reddit0Share on Facebook1Google+0Email to someone

6 Responses to Government Teat-Sucking Bankster, Steven Rattner, Calls Auto Bailout “Un-American”

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6

Emptywheel Twitterverse
JimWhiteGNV RT @michaelwhitney: The NRA’s top attorney was convicted of murder in 1964 http://t.co/TCOSJ0l0Lp http://t.co/75lPT3gleA
1mreplyretweetfavorite
JimWhiteGNV RT @TBTimes_Rays: Amazing stat from @msimonespn: Since 5/20 infield 1B by Punto, LHB vs. #Rays Boxberger are 0 for 40 with 22 K, 3 BB http:…
2mreplyretweetfavorite
JimWhiteGNV Suicide Bomb Kills Karzai’s Cousin: First Victim of Abdullah-Ghani Battle? http://t.co/xdrFMJ9ynW
5mreplyretweetfavorite
bmaz RT @emptywheel: So question is: Is this "fix" actually about putting NSA in our smart phones at immunized telecoms? http://t.co/TOsmGK2Rym
6mreplyretweetfavorite
bmaz @howellsacto @nickmartin With the added kicker that my client was not wandering around like a fucking jackass w/assault rifle in an airport.
20mreplyretweetfavorite
bmaz @howellsacto @nickmartin Yeah, well, I have a client right now who also "lacked intent" and she was charged with agg assault as top count.
21mreplyretweetfavorite
emptywheel @SusieMadrak Like Palestinians who voted for Hamas, humanitarian opposition to dead children is sign of terrorism.
30mreplyretweetfavorite
bmaz .@nickmartin Why isn't this aggravated assault under ARS §13-1204? It would be for any of my clients. 2nd Amend doesn't negate crim statutes
31mreplyretweetfavorite
emptywheel So question is: Is this "fix" actually about putting NSA in our smart phones at immunized telecoms? http://t.co/TOsmGK2Rym
40mreplyretweetfavorite
emptywheel Leahy Freedom cannot provide location RESULTS. But nothing in bill prohibits use of location to make "connections." http://t.co/TOsmGK2Rym
41mreplyretweetfavorite
emptywheel When @SenatorLeahy introduces New USA Freedom, will he answer what "connection" chaining is? http://t.co/TOsmGK2Rym
50mreplyretweetfavorite
December 2012
S M T W T F S
« Nov   Jan »
 1
2345678
9101112131415
16171819202122
23242526272829
3031