Government Screws Chrysler Debt Holders?

Maria Bartiromo of CNBC has just reported that the Feds have not even contacted the Chrysler senior debt holders, debt holders whose holdings are legally superior to the debt held by the UAW, yet the Obama administrations plan would give a larger stake to the UAW. The GM plan holds the same situation, senior debt holders of GM hold 2 1/2 times the debt held by the UAW Retirement Plan yet the senior debt holders receive only 1/4 the ownership stake that the UAW would receive. Is this what out tax dollars are funding, an ownership stake that unions could not have ever received under our nation's laws?

As I write this the Dow Jones 30 is attempting another upside break-out this morning.

Polls Tighten - McCain & Palin Interviewed on CNBC - Stock Market Explodes!

Some of my liberal friends have told me how goofy I am for noticing that the stock market has lost value when Barack Obama's Presidential campaign rises in the polls and that stock prices have risen when Barack Obama falls in the polls. The correlation is noticeable enough for me, a grain trader to notice it. Well McCain's poll numbers tightened again today plus John McCain and Sarah Palin were interviewed together by Maria Bartiromo on CNBC today. CNBC is watched in nearly every trading office in America, it's even on the screens of televisions on exchange trading floors without the sound. The Dow Jones 30 rose 889 points today.

Maria Bartiromo also played the notorious Obama judicial redistribution tape on air yesterday. Chalk two up for Maria, she's bigger than most of the "big boys."

No video yet but it was a good day for America. Don't listen to those who state that stock traders and investors pay no heed to such ignorant Obama promises as: raising corporate taxes, raising dividend taxes, raising capital gains taxes, rewriting trade treaties to the detriment of all involved, raising overall taxes, increasing regulation, funding "community organizers" like ACORN that use their bullhorn to steal (see: ACORN's involvement in the collapse of Fannie Mae), lower defense funding in a dangerous world, a disturbing, nearly dictatorial view of opponent's free speech rights that will likely be used in the regulatory realm and I am sure that I have missed some things that the buy side of the market looks askance at.

During the rare economic discussion with my liberal friends they really can't make cogent arguments on how those policies are beneficial to the average business, I ask a very simple question: how will raising the taxes of a business give that business incentive to: hire more employees, raise the salary of their employees, increase their bonuses, give them more time off and increased family leave, give them or increase their health insurance, give them or improve their retirement plans?