CASE OPEL: Lies, Deception and Political Games at Taxpayers' Expense

"The Americans listened to us. Our jobs are saved! It was our idea!" Every politician in Germany is suddenly running around patting themselves on the back that they saved Opel from the hands of General Motors. OPEL-Magna, Magna-OPEL was the mantra the politicians continously chanted to brainwash the taxpayers to help themselves before the general elections on September 27th.

What exactly is the Magna-Opel deal you ask? At least € 4,5 billion guarantees from the government (=taxpayer money guarantee). What about Magna itself as a company? This same company who is supposed to save Opel, along with another questionable Russian bank consortium, had NEGATIVE earnings this year and can only guarantee € 450 million, if at all possible. I question how a company with negative earnings can get bank guarantees.

Then comes the Russian bank, Sberbank, who has until now guaranteed.... nothing!

This consortium is then supposed to work with another Russian 'car company', Gaz. Who?!!!! In an oversaturated European car market, OPEL is supposed to work with Gaz to sell cars to......Russians!!!!????

The people who are entrusted with the OPEL negotiations are themselves screaming and saying - "THIS DOES NOT MAKE SENSE!", and these are the people who understand the nuts and bolts of number crunching.

The taxpayers will pay, yet again, after the elections, for incompetence and greed and I don't mean the companies this time around; the politians are busy patting themselves on the back for their own incompetence.

But never mind all of that, say the politicians. They will stick the taxpayers with a bill later after the elections.