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TARP audit shows Barack Obama acted too quickly in shutting down auto dealerships

July 19, 2010

   Neil Barofsky– the special inspector general overseeing the TARP funds– has released his report on the Obama regime’s handling of the automakers bailout, and the result is not good if you are the president.

  According to Neil Barofsky the Obama regime forced General Motors and Chrysler to shut down auto dealerships without fully understanding the economic impact this would have.

Treasury made a series of decisions that may have substantially contributed to the accelerated shuttering of thousands of small businesses,” investigators said.Those decisions resulted in “potentially adding tens of thousands of workers to the already lengthy unemployment rolls — all based on a theory and without sufficient consideration of the decisions’ broader economic impact

  Barack Obama’s urge to act quickly trumped his need to act rationally, and the result of this is that tens of thousands of people may have needlessly lost their jobs.

  The Obama regime is naturally denying these claims, and if history tells us one thing it is this: Neil Barofsky had better watch his back or he will end up like Gerald Walpin– the inspector general that Barack Obama illegally fired and smeared as being senile after he exposed corruption in AmeriCorps that implicated Barack Obama’s friend and mayor of Sacramento, former NBA star Kevin Johnson.

 I don’t know all the facts in this report, but Barack Obama acted stupidly.

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10 Comments leave one →
  1. July 19, 2010 9:57 pm

    Snicker. Nice use of Obama’s own words at the end. Great post.

    Like

  2. July 19, 2010 10:03 pm

    Has Obama ever acted any other way?? 😕

    Like

  3. globalscams permalink
    July 20, 2010 10:26 am

    Barak Obama is a Progressive. Progressives DESPISE Big Business. That is no surprise at all that his every action is designed to kill big business jobs so that he can fundamentally reshape America.

    Like

    • July 20, 2010 10:03 pm

      They love to turn “ordinary Americans” against big business, but the fact is big business provides millions of jobs for those very same Americans. It is class warfare at its finest, Democrats have perfected this line of attack.

      Like

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  1. Barack Obama’s handling of the automakers bailout cost thousands of people their jobs « America's Watchtower

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