The Founders must be rolling over in their graves today.

Our hallowed Dear Leader has just nationalized GM and Chrysler.

In the case of GM, the Obama-Commies-Feds gets 51% for a $15bil. investment, the unions get 39% for their I believe $7-8 billion investment and the bondholders get 10% for their $28 billion investment.

Hey, that’s great. How bout that takings clause. Our Constitutional scholar President sure knows to enforce that living-breathing Constitution thing.

In the case of Chrysler, bondholders again get 10% with the unions getting over 50%. Feds the rest.

Sure makes you want to go out and buy some bonds, huh?

I’m never going to buy a Chrysler or GM again! No money for the Obama-Commies.