DNC rewind: Untold story of the GM bailout
Author Dinesh D'Souza weighs in
- Duration 5:36
- Date Sep 7, 2012
Author Dinesh D'Souza weighs in
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Now as we continue our investigation into the lies and distortions that playing the Democratic National Convention this week we look at.
The other major theme and that's the president's.
Bailout of General Motors and other words government motors let's take a look.
Now proudly say what you heard me say the last six months.
So my bed laden is dead and General Motors and the line.
-- wanted to let.
Detroit go bankrupt this president save the auto industry and now it's coming back strong.
The American auto industry.
Is not just surviving.
The American -- Industry from extinction.
Fellows never mention is that more than 25 billion dollars in loans will never be repaid by the auto industry and you add another fifteen billion dollars when you talk about GM AC meeting that you the taxpayer.
Will be stuck with the bill so.
Why did GM deserved this costly bailout well of course it's the unions big labor has been a major supporter of the anointed one.
And I guess this was the president returning that favor joining me now to expose -- -- -- story about the auto bailout the author of the New York Times best seller.
It's number one on the last Obama is America Dinesh D'Souza also 2016.
You -- -- -- -- up you're gonna surpass.
You know what was that the global warming fiasco thing.
-- this is a big weekend for the film because big bias and he followed past the into an inconvenient truth al-Qaeda that's going to be very inconvenient truth Al -- will surpass his film -- -- it was an amazing amount to a Michael wants films that go out and bowling for column -- so -- that was the autobiography.
Is that she's.
-- -- I felt description.
But by Monday will be the second most successful documentary of all time that it really it.
Charlotte that was -- the amazing the job.
-- what let's look at this first of all between the money that was wanted government motors the bailout.
Now we find out we're not getting most of this money back.
And when we -- into it did that what used to be GM AC -- on old.
The auto lending side of -- when -- getting a lot of that money back so the American taxpayer of this great success.
They gave basically -- gift from the taxpayers of fifty million dollars.
Yeah I was I mean you're right it was a payoff for the unions because they rewrote contracts they exchanged with a -- as war -- we're gonna be paid in what order winners and losers -- winners and losers.
But I think it's also part of a big a pattern because.
It what what we've seen in the four years of Obama is the federal incursions into a whole bunch of sector's health care.
Banking finance energy autos so what we're really seeing is a redefinition of the relationship between the citizen and to the state.
So I -- this is part of an attempt by Obama ultimately to have the federal government government be the quarterback of the private sector now and then the important thing is as we have bankruptcy laws that doesn't mean go out of business laws.
Who we have who vote a legal process.
Which I supported governor Romney supported.
Whereby they would be able to stay in business.
They'll be able to rework their their contracts and so on and so forth and go through bankruptcy protection.
They're acting as though governor Romney one of the doors to be -- -- no no help whatsoever no he said go through the process.
That every other business in America has to go through if they can't afford to pay their bills that they miss -- -- money.
Or any family the family in the economic trouble -- -- make some sacrifices and you can come back but it's gonna depend on your own efforts that every American family is making those sacrifices now.
Exactly right I went through and I looked it according to the American Bankruptcy Institute.
Bankruptcies there was cost 610020095602010.
In 2011 and this year first quarter well if we had 111000.
So the question is all of those other companies -- not getting a bailout.
Did it why because they're not union members that can help kick back the money you know from from union dues to the president in his reelection campaign.
You know what amazes me about Obama as he keeps up hunting his problems and saying they were caused by the previous administration.
Now look there's no question he inherited an economic nosedive and nobody's asked nobody saying that all the problems of America should be fixed but UX at least expect them to be -- Then they wore when he came to office so unemployment when Obama came in what seven point 8%.
We're not saying it should be 2%.
But it's now higher than it was four years ago despite throwing all this money in the bailouts but also the stimulus -- so.
Obama needs to be judged on his own record -- here we have GM.
They -- bad unemployment numbers we have the bin Laden law these are all lies that went on this week the tone incivility.
-- all this goes on this week.
And got very little mention in the press we have spent an hour examining each one of these issues what does this say about.
The media in this country.
That they are not doing this job.
Well this is a real scandal you know when we were when I was interviewing people for my film to talk to people who knew Obama's mom knew his dad -- -- on the bomb on this was in Indonesia and Kenya.
And I asked these guys that say when was the last and you interviewed they go never you're the first guys coming out here.
So I'm -- a New York Times with CBS news -- a sense here in which these guys think it is morally important for America for Obama to be reelected and if they have to suppress information for that to happen they'll do it.
Right 26 seen the movie in theaters or on the country go to 2060 in the movie dot com to find if you.