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 Twitter0Share on Reddit0Share on Facebook0Google+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
bmaz It's amazing that @ESPN can't quite get the feed on the ASU/Huskies game right for squat, but they can always, oh so easily, parrot Goodell.
13mreplyretweetfavorite
bmaz RT @teddysanfran: @bmaz I wonder if she saw it coming? http://t.co/sTrMmqBMB4
16mreplyretweetfavorite
bmaz Say what you will about Obamacare, but internet+media fanboys saying Dems losing ground in both House+Senate is "winning" issue are insane.
20mreplyretweetfavorite
JimWhiteGNV RT @WilliamsJon: CDC: Health Care Workers volunteering to combat #Ebola epidemic in West Africa are heroes. We must treat them with respect…
20mreplyretweetfavorite
JimWhiteGNV RT @ninatypewriter: I'm just gonna keep on tweeting about this until @MSF_USA nurse Kaci Hickox is out of that fucking tent.
34mreplyretweetfavorite
bmaz @ColMorrisDavis @emptywheel @ddayen @CitizenCohn Also can't wait for the next time @speechboy71 opportunistically wants to shit on my family
35mreplyretweetfavorite
bmaz Perfect question. My guess is NO! RT @teddysanfran I wonder if she saw it coming? http://t.co/3slVw6xNUO
38mreplyretweetfavorite
bmaz Hey @AdobeFlash you asswipes are terminally hashing on my internet mellow. If you are going to be ubiquitous, try not to be such dickheads
39mreplyretweetfavorite
bmaz @ColMorrisDavis @emptywheel @ddayen @CitizenCohn And, hey, no reason for other fanboys to call @speechboy71 out for inconvenient bullshit.
55mreplyretweetfavorite
bmaz @ColMorrisDavis @emptywheel @ddayen @CitizenCohn Guess when yer a soul patched whiz kid of internet like @speechboy71 you can shit on others
57mreplyretweetfavorite
JimWhiteGNV RT @teddysanfran: I wonder if she saw it coming? http://t.co/sTrMmqBMB4
1hreplyretweetfavorite
bmaz @ColMorrisDavis @emptywheel @ddayen @CitizenCohn I'd have to be senile and willing to lie out of my ass like @speechboy71 but, hey, someday.
1hreplyretweetfavorite
December 2012
S M T W T F S
« Nov   Jan »
 1
2345678
9101112131415
16171819202122
23242526272829
3031