The Aristocrasy of Pull

"President Obama insisted at his press conference recently that he doesn't want to nationalize the auto industry (or the banks, or the mortgage market, or . . .). But if that's true, why has he proposed a restructuring plan for General Motors that leaves the government with a majority stake(87% with only $16.2 billion 'invested,' as opposed to the American people in the person of the 'hedge funds,' with a $27 billion 'investment' getting 10%, and the union getting 40%, with NO investment, although they claim $20 billion) in the car maker? Sounds like the American public are the biggest loser I this, with Obama’s government being the BIG winner." "Doesn’t want to run GM?" Does he really believe we’ll buy this crap? (Wall Street Journal)