John Ransom

Obamacare, stimulus, IRS, budget, foreign policy, green jobs, student loans: the list of things screwed up by Obama is lengthy and growing longer.

Perhaps it's not just incompetence. Perhaps, like the Ancient Mariner, Obama is cursed.

As a colleague put it: Obama is like the other plague not mentioned specifically in the Bible.

General Motors, which benefited perhaps more than any other entity from Obama's largess--by being bailed out-- announced that they expect the death tally to go higher as a result of their ignition switch fiasco.

From the New York Times:

General Motors’ chief executive, Mary T. Barra, said Tuesday that the number of deaths and accidents linked to defective ignition switches could increase when an independent compensation plan is completed.

Speaking to reporters before the automaker’s annual meeting, Ms. Barra said that Kenneth Feinberg, a lawyer who specializes in victim compensation, would “independently determine” how many people died or were seriously injured in millions of small cars with faulty ignition switches.

The company was aware for years that these ignition switches were faulty but, kind of like the VA, ignored the problem even though it was killing people.

Does anyone else see the pattern?

Prior to the scandal GM stock had climbed to almost $42. But the defective ignition switch problem has knocked the stock back down again.

It's another in a series of missteps that's continuing the GM moniker of Government Motors.

GM has been a public relations disaster since turning to the government for money, and stiffing shareholders in a deal that was a big warm hug to the United Auto Workers. From their ill advised reliance on the Chevy Volt to re-brand the entire GM line, to their fake announcements that taxpayers have been paid off, the company has gone from one lie to the next.

And just shows that anything Obama touches is doomed, doomed I tell you!

Too bad Democrats don't come standard with ignition switches.

John Ransom

John Ransom’s writings on politics and finance have appeared in the Los Angeles Business Journal, the Colorado Statesman, Pajamas Media and Registered Rep Magazine amongst others. Until 9/11, Ransom worked primarily in finance as an investment executive for NYSE member firm Raymond James and Associates, JW Charles and as a new business development executive at Mutual Service Corporation. He lives in San Diego. You can follow him on twitter @bamransom.

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