Another White House "czar" Ronald Bloom, shares his views on economic policy, ideology and politics. President Obama has surrounded himself with this kind of thinking who are influencing him on every key decision. Oh and by the way, most all of Obama's cabinet members have quoted, agreed and even praised China's Marxist Communist genocidal murderer Chairman Mao. They believe that power comes largely from the barrel of a gun. Yet the Obama administration is working on taking away our 2nd amendment individual gun rights/ownership away. So basically the general public will be left defenseless and at the mercy of the government/ruling body.
Ron Bloom, Obama administration manufacturing czar, "Generally speaking we get the joke. We know that the free market is nonsense. We know that the whole point is to game the system. To beat the market or at least find someone who will pay you alot of money because they're convinced there is a free lunch. We know this is largely about power. That it is an adults only no limit game. We kind of agree with Mao that political power comes largely from the barrel of a gun. And we get it that if you want a friend that you should get a dog."
Ron Bloom: Obama Administration
[source: wikipedia]
Auto Industry Restructurings
In February 2009, Bloom was named Senior Advisor to the Secretary of the Treasury on the President’s Task Force on the Automotive Industry. As the deputy to Steve Rattner (who led the Auto Team at Treasury), he helped manage the process that led to the reorganization of General Motors and Chrysler. An experienced dealmaker, he played a key role in extracting concessions from the companies, their lenders and other creditors, and the United Auto Workers (UAW).
Bloom was particularly central to the Chrysler negotiations, where his strategy emphasized shared sacrifice to maximize value for all parties. He convinced the UAW, whose principal interest was preserving jobs, to accept painful wage-and-benefit concessions. In return, a VEBA for UAW members would receive a significant equity stake in the reorganized company. The announcement of that agreement put pressure on Chrysler’s creditors to forgive a significant portion of their loans. With those commitments sealed, the Treasury agreed to provide the necessary financing to set the company back on its feet.
When Rattner left the government, shortly after GM emerged from bankruptcy in August 2009, Bloom took over the responsibility of “monitoring [the auto] industry and protecting the substantial investment the American taxpayers have made” in GM and Chrysler.
On April 21, 2010, GM paid back its outstanding loan from the U.S. government (five years ahead of the scheduled maturity date and also ahead of the accelerated repayment schedule the company announced in 2009). The remaining Treasury stake in GM consists of $2.1 billion in preferred stock and 60.8 percent of the common equity. Bloom has said that this remaining taxpayer interest in the company will be disposed of “as soon as practicable.”
Manufacturing Policy
On Labor Day, 2009 (September 7), President Obama formally introduced Bloom as the Administration’s Senior Counselor for Manufacturing Policy. He was charged with “working closely with the National Economic Council [to] provide leadership on policy development and strategic planning for the President’s agenda to revitalize the manufacturing sector.”
In this capacity, he was instrumental in the formulation of the Administration’s Framework for Revitalizing Manufacturing (released on December 16, 2009). The Framework underlines the critical role manufacturing plays in the U.S. economy and in the fabric of American life; it outlines the major factors that have contributed to the significant difficulties facing American manufacturers; and it describes the Administration’s efforts to address each of these factors and revitalize the manufacturing sector.
No comments:
Post a Comment