Look out folks, Chavez just played a trump card on Obamanation's GM Deal!

In their private game of who is the biggest Socialist, Chavez has just thrown out a trump card on Obama..... first Chavez nationalized Oil and Electric companies. "O" raised six banks, AIG, and General Motors ,

Chavez then led by taking over a steel company and a coffee outfit, 'O' came back with Chrysler....

Now Chavez is leading with a gob'mint takeover of Venezuela's iron -makers... What will Obamanation come back with.... AT&T? Union and Pacific Railroads? As reported by AP yesterday.

The Associated Press May 15, 2010
"Venezuela's Chavez orders takeover of iron-makers"

CARACAS, Venezuela
"President Hugo Chavez announced Saturday the expropriation of a group of iron, aluminum and transportation companies in Venezuela's mining region.
Among the expropriated companies is Materiales Siderurgicos, or Matesi, which is the Venezuelan subsidiary of Luxembourg-based steel maker Tenaris SA.

Venezuela's socialist president said in a televised that his government was going to take over Matesi because "we couldn't reach an amicable and reasonable settlement with the owners."
Chavez said production at the company has been paralyzed since midway through last year, when Venezuela's president announced plans to nationalize it.

Chavez said he was also going to expropriate Venezuelan-owned Orinoco Iron and aluminum-maker Norpro de Venezuela C.A., which is an affiliate of the U.S. company Norpro in association with France's Saint Gobain, among other companies.

As well, Venezuela will take over transport companies that ship raw materials in areas southeast of Caracas. He did not name the companies."


I hope Bill Gates and Steve Jobs have their taxes paid and their parachutes ready! What's in your stock portfolio, Mate?