Only fit for foreign enemies
Posted by aogMonday, 04 May 2009 at 07:58 TrackBack Ping URL

For all of the administration’s anguish that terrorist interrogation techniques ignored the rule of law, Obama’s administration shows precious little respect for the rule of law when it subverts Bank of America stockholders by misrepresenting Merrill Lynch, strong arms employees who signed retention contracts with investment firms, and cheats those whose precious savings were invested in Chrysler bonds.


Yes, that’s quite an interesting point, isn’t it? The Obama Administration is denying these latest threats, but after the pitchforks remark how believable is that?

What I find most intersting, though, is the lack of comment from the White House Press Corps. Apparently the idea that they are simply tools to be used by Obama’s crew is not something they find objectionable or concealed. But we knew that, didn’t we?

Comments — Formatting by Textile
MAS1916 Monday, 04 May 2009 at 13:33

One doesn’t need to follow the law when you are the head of a cult. Obama has the media and a good chunk of the population believing that He is something other than a guy trying to run a country. This lack of humility will prove his undoing at some point.

For those that supported him and have seen error in their ways, here is a 12 step recovery plan for the Obama worshiper.

Ali Choudhury Tuesday, 05 May 2009 at 13:48

Wasn’t Paulson the one who allegedly told Ken Lewis to shut up and buy ML?

Harry Eagar Wednesday, 06 May 2009 at 12:41

Now, now, don’t inject facts into the discussion, Ali. It queers the fun for everybody else.

Annoying Old Guy Thursday, 07 May 2009 at 11:48

I am fine with facts, but I fail to see the relevance. As far as I know, Mr Choudhury is correct. I do find it telling, though, that the only justification for Obama’s actions is that someone else did it first.

P.S. Here’s another little fact that’s actually of revelance.

Bret Thursday, 07 May 2009 at 12:11

Yeah, the Lauria allegations are disconcerting. It probably deserves its own post.

Ali Choudhury Thursday, 07 May 2009 at 13:08

If you go crying for money to the government, expect to be kicked in the nuts. Chrysler of all companies should realise this.

Annoying Old Guy Thursday, 07 May 2009 at 13:58

The Chrysler bondholders that Obama is threatening aren’t the ones who went crying to the government for money. And it also doesn’t apply to the TARP recipients who were first strong armed in to accepting the money, and then kicked to the curb for doing so.

I don’t mind people who suck at the government teat getting poisoned, it’s when those who don’t get Mafia-style “leverage” applied to them, because then it’s Eagar-style “where’s the nearest lamppost?” rule. Here’s how an Obama supporter sees it and it’s even less complementary than my take.

Annoying Old Guy Thursday, 07 May 2009 at 16:10

I was going to do a separate post on this but I think I’ll just tack it on here. It’s Attorney General Eric Holder indicating that he’s willing to cooperate with the Europeans in prosecuting his domestic political opponents, at the same time Europe is refusing to help in dealing with our foreign enemies in Camp X-Ray.

Harry Eagar Thursday, 07 May 2009 at 20:35

The bondholders claim they ‘supplied the automaker with money,’ which is, for almost all of them, a lie.

At Restating the Obvious, I explained how the Venetians dealt with people like that. No, they didn’t hang them from lampposts.

And just because they say they are senior secured creditors doesn’t mean you have to believe them. That’s a lie, too, at least once you get into bankruptcy court.

Annoying Old Guy Thursday, 07 May 2009 at 21:00

And just because you claim they’re not, doesn’t mean I have to believe you. Given that you have already made patently false claims in a similar issue, why should I not trust everyone else I have read on this subject over you?

joe shropshire Friday, 08 May 2009 at 09:48

Then bankruptcy court is exactly where this needs to get sorted out, as soon as possible. I’m certainly not taking Tom Lauria’s word as gospel on anything. But: consider that, going in, we know that the bondholders are taking the position that Chrysler really is bankrupt. The government is taking the position, so far as one can tease out an actual position from all the posturing, that it isn’t really; well it is, sort of, but only because its creditors are greedy bastards. So on that point at least we can already distinguish between who is telling the truth, and who is either lying or hallucinating. You have to be a pretty big liar to be the biggest liar in the courtroom, if you are in the same courtroom as Steven Rattner or Ron Gettelfinger.

Annoying Old Guy Friday, 08 May 2009 at 11:02

Hey, let’s get back to the lack of outrage on the part of the White House press corps and print Old Media to the implication that Obama could use them as shock troops against his political enemies, and why anyone should read newspapers and / or magazines if they don’t consider that sort of thing unthinkable or even an insult?

joe shropshire Friday, 08 May 2009 at 14:22

This may be of interest to some: Why the Chrysler Deal Would Horrify a New Dealer

The Obama administration blueprint for Chrysler’s bankruptcy looks startlingly like the artificial sales that the New Dealers so abhorred. Unlike a traditional reorganization, in which the parties negotiate the terms of a restructuring that is then voted on by each class of creditors and shareholders, the administration plans to quickly sell Chrysler’s most important assets to a new entity—“New Chrysler”—whose stock will be owned by Chrysler’s employees and Fiat. The senior lenders who objected to the government’s offer (which amounted to little more than 30 percent of their claims) will not have any vote on the sale. Their only option is the one they have pursued: objecting to the sale, and praying that bankruptcy judge Arthur Gonzalez takes a hard look at its terms even while the government is breathing down his neck and saying in a sense, he better approve or else.

If reformers are successful they become powerful, and then it is only a matter of time until they, or their children, turn into just exactly the same thing they used to hate.

joe shropshire Friday, 08 May 2009 at 14:38
So far as the watchdog press goes, here are the title and first line from another recent post by Megan McArdle:
How Do I Know That the Chrysler Bailouts are About the Unions?

This question was asked recently by a seasoned political reporter of my acquaintance.

We are not going to run out of fun any time soon.

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