Nice country you got there…be a shame if something happened to it.
Obama and his merry band of thugs have been very busy of late. Not content with attempting to strong arm DOJ lawyers and the CIA, a move which has not gone so well, they have now increased the pressure on those who had the temerity to lend money to Chrysler, and expect repayment. Sadly, these people are caving in to the Thug-in-Chief and his right hand man Steve Rattner, as Zero Hedge reports,
A group of Chrysler creditors opposing the carmaker’s reorganization is likely to disband after two more investment firms withdrew from its membership, a person briefed on the matter told DealBook on Friday.
The withdrawals of OppenheimerFunds and Stairway Capital Management will likely drop the group, calling itself the Committee of Non-TARP Lenders, below 5 percent of Chrysler’s $6.9 billion in secured debt, this person said. That would almost certainly eliminate the group’s standing in federal bankruptcy court.
This is a direct result of them being threatened with public humiliation and being tarred as “speculators.” Since when has that become a derogatory term? They were investors, many who represented pension funds, who deserved their day in front of a bankruptcy judge, rather than be told by Presidential fiat how much they would be repaid. This will not bode well for any future projects that will require private funding. Nor will it bode well for US Bonds and Treasuries when word gets around that Barry will arbitrarily and capriciously reset the terms of repayment without any legal recourse. From the article,
This is merely yet another milestone in the collapse of contractual rights in the American system
The power that Obama is wielding, and being allowed to exercise without restraint, is quite amazing. Consider this thought from The Washington Examiner,
Tom Lauria said that an Obama administration official threatened that the White House press corps would destroy his client’s reputation unless it agreed to the White House Chrysler deal.
Then factor in this suggestion, and it becomes downright scary, because you know this is entirely plausible,
They might very well know that Steve Rattner is reputed to be one of the best friends of Arthur Sulzberger Jr., publisher of the New York Times. The threat starts to sound like a threat of character assassination by the NYT. Of course it may be true that it would be out of character for Rattner (who was once a very good NYT reporter himself) to suggest a story line to Sulzberger or to a Times reporter—or it may not.
A stunt that would have made Mother Russia proud back in the day. Also, on current form, it is not beyond the pale when you consider Barry’s recent admonishment to the press when,
… he told journalists directly that they should stress the fact that the cuts are “significant” – a surprisingly direct appeal to reporters concerning which angle they should take in their coverage.
“It is important, though, for all of you, as you’re writing up these stories, to recognize that $17 billion taken out of our discretionary, non-defense budget, as well as portions of our defense budget, are significant,” he said. “They mean something.”
The media have always been willing participants in elevating Barry to the Presidency, always taking him at his word, and never investigating his background in any way. Thus emboldened he can continue to “re-make” America unhindered, indeed aided and abetted by a profession that we can now regard as mere stenographers. Dark days indeed. You can read of his coercive ways here.
I’ll give Hot Air the final word on the UAW connection.
Obama and his henchmen have threatened to kneecap their opposition in the press and use Porkulus as an extortion device to dictate policy. So far, only one group has been the beneficiary of the gangster tactics:
The ones who created this mess in the first place.
May 8, 2009
Tags: New York Times, Rattner, UAW Posted in: Bailout, Barack Obama, Corruption
2 Responses
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