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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: TideGlider who wrote (64432)	5/5/2009 5:18:30 PM
From: DizzyG	5 Recommendations Read Replies (1) \| Respond to of 224729

Hey TG... Have you been following the Chrysler reorganization? This is part of a motion filed by a group of "non-Tarp" creditors: While the present case is unusual in many ways, perhaps the most extraordinary is the unprecedented involvement of the United States government. Never before has the President of the United States announced a chapter 11 filing in a national address. Even more remarkably, the President singled out creditors who did not agree to the government’s intentions regarding Chrysler, which includes paying billions of dollars to unsecured creditors while paying first-lien secured creditors less than thirty cents on the dollar. The President publicly chastised these secured creditors for having the temerity to enforce their constitutional rights in this court of law, branding them as “speculators,” making clear that “I don’t stand with them.” The President’s remarks announcing the bankruptcy filing are merely the most public in a series of steps undertaken by the current administration to subvert the rule of law by forcing Chrysler stakeholders to agree to a sub rosa plan of reorganization which wholly ignores time honored bankruptcy principles. dealbook.blogs.nytimes.com So the Dalibama now wants to re-write bankruptcy laws. When are people going to realize that Obama is nothing but a Chicago thug? Diz-