Was It Only A Year Ago?

As Paul Ingrassia reminds us, today was the first anniversary of the GM bankruptcy. You know the one, where the White House subverted the Constitution, stiffing the bond holders and debtors and giving the proceeds to the UAW, who were in no way a debtor. What it was was a payoff to the unions for backing Obama, plain and simple. There's no other explanation I can find that makes any sense.