PLACERVILLE, CALIFORNIA

Letters

Obama saving auto industry from bankruptcy?

By From page A5 | November 23, 2012

EDITOR: Joe Biden was giving a speech a minute ago, and he was rallying his base listing his administration’s numerous achievements. One in particular he singled out was, his words, they saved Chrysler and GM from bankruptcy.

What do you call it when the government seizes a company, fires its leaders eliminating the value of stocks to its shareholders and reorganizing the company so that the union now receives a majority share? Isn’t that bankruptcy?

What’s next Joe? Feel like bragging about the 1300 Chevy Volts that are now on the road? Brilliant.

KEN STEERS
Cameron Park

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