Obama administration threatened Chrysler senior creditors with public attacks

Breakage · 05-05-2009, 12:46 PM

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.

This on top of forcing all who took TARP money to go along.

Fairly despicable behavior.

There is a fairly wide held belief amongst the LS, that lying, cheating, stealing, extorting, coercing and blackmailing are alright as long as it is in the name of saving the economy.

Breakage · 05-05-2009, 01:05 PM

Hot Air » Blog Archive » Lauria allegations of threats corroborated

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

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.

05-05-2009, 12:46 PM	#1 (permalink)
Breakage Status: Hall of Famer Join Date: Sep 2003 Posts: 10,432	Obama administration threatened Chrysler senior creditors with public attacks 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. This on top of forcing all who took TARP money to go along. Fairly despicable behavior. There is a fairly wide held belief amongst the LS, that lying, cheating, stealing, extorting, coercing and blackmailing are alright as long as it is in the name of saving the economy. __________________ "An inexhaustible good nature is one of the most precious gifts of heaven, spreading itself like oil over the troubled sea of thought, and keeping the mind smooth and equable in the roughest weather." Washington Irving Last edited by Breakage : 05-05-2009 at 12:48 PM.

05-05-2009, 01:05 PM	#2 (permalink)
Breakage Status: Hall of Famer Join Date: Sep 2003 Posts: 10,432	Hot Air » Blog Archive » Lauria allegations of threats corroborated 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 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. __________________ "An inexhaustible good nature is one of the most precious gifts of heaven, spreading itself like oil over the troubled sea of thought, and keeping the mind smooth and equable in the roughest weather." Washington Irving