Re: White House threats...
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Originally Posted by
Crookshanks
Yoni - I told you it was a exercise in futility to try to convince these libs. Obama can circumvent the constitution, rewrite laws and do just about whatever he damn well pleases and these koolaid drinkers will find a way to defend him and justify his actions.
They're a lost cause!
Threatmonger rule #10... right on cue...
http://www.spurstalk.com/forums/show...46&postcount=1
Re: White House threats...
Quote:
Originally Posted by
Barry O'Bama
Lauria allegations of threats corroborated
posted at 1:37 pm on May 5, 2009 by Ed Morrissey
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Business Insider reports that more than one Chrysler senior creditor has corroborated Thomas Lauria’s allegation that the Obama administration threatened them with public attacks if they didn’t surrender their contractual rights. One of their sources says that the Obama team comprises some of the worst “ends justify the means” people he’s ever encountered (via HA reader Geoff A):
Creditors to Chrysler describe negotiations with the company and the Obama administration as “a farce,” saying the administration was bent on forcing their hands using hardball tactics and threats.
Conversations with administration officials left them expecting that they would be politically targeted, two participants in the negotiations said. …
The sources, who represent creditors to Chrysler, say were taken aback by the hardball tactics that the Obama administration employed to cajole them into acquiescing to plans to restructure Chrysler. One person said described the administration as the most shocking “end justifies the means” group they have ever encountered. Another characterized Obama was “the most dangerous smooth talker on the planet- and I knew Kissinger.” Both were voters for Obama in the last election.
One participant in negotiations said that the administration’s tactic was to present what one described as a “madman theory of the presidency” in which the President is someone to be feared because he was willing to do anything to get his way. The person said this threat was taken very seriously by his firm.
Well, that’s certainly reassuring. The man at the helm during one of the biggest economic crises in decades is a madman who will act in an unpredictable and irrational manner if he doesn’t get his way. It sounds like they paint Obama as either a lunatic or a petulant child.
As
Glenn Reynolds says, the country is in the very best of hands.
The story now has more than one source, and mounting testimony — albeit understandably anonymous testimony, at least at this point — that the White House tried threatening senior creditors instead of doing their job in enforcing the law. Not only do they not realize that their responsibilities do not include building business plans for private enterprises, but also don’t include assuming the role of Michael Corleone and acting like organized-crime thugs. Actually, the way the White House made Obama sound, maybe Sonny Corleone is a better analogy … or perhaps Fredo.
Now,I'm gonna go get a burger at a yuppie joint with my VP to get the media off of this.
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Conversations with administration officials left them expecting that they would be politically targeted, two participants in the negotiations said. …
:rolleyes
Re: White House threats...
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Originally Posted by
Winehole23
Bankrupcy was never declared. It was an option. It was a big mistake to pass on it.
???
Chrysler filed on April 30th.
http://money.cnn.com/2009/04/30/news...ion=2009043009
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I have no idea what would have returned a company with unsupportable legacy costs to profitability. Do you? Fuck the pensioners maybe? There would have been equity and breech of contract problems with that too.
Yes. Fuck the pensioners. Just like we're going to have to fuck the "pensioners" who depend on social security and medicare. Those legacy costs can't be supported either. Sad, but reality. Chrysler and GM's only chances for survival are to dump the legacy costs. A lot of people will get hurt, but it's the only way those two companies can survive. And there needs to be a scenario where Chrysler and GM can start making money again. If there isn't one, there's no reason for them to exist anymore. Liquidate and be done with it.
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The creditors are obliged to protect themselves. They didn't insist on receivership while it was still an option. That would have done it. They missed the opportunity. Too bad for them.
The hold out creditors are protecting themselves. That's why Chrysler is in receivership right now. They protected themselves and Obama decided it would be a good PR opportunity to make his "I do not stand with them" quote.
Re: White House threats...
I phrased it poorly. I meant that bankruptcy ought to have happened before Chrysler came, hat in hand, for a bailout. Of course, that would have been politically untenable.
It was naive for the creditors to think they'd get a fair shake from Obama. I guess that was what I meant. Somebody stood to get fucked. Surely they didn't think Obama would fuck the pensioners?
Re: White House threats...
Liquidation was never really an option. The downstream wreckage would've been too nasty. Reorganization under government tutelage was bound to happen no matter who got elected last year.
Re: White House threats...
Unfortunately for the creditors, Obama won.
Re: White House threats...
I am still trying to find any proof that the WH specifically threatened anybody... if there's no proof then why is this even an issue?
Re: White House threats...
