The Modus Operandi
Chrysler goes bankrupt and the UAW get to keep it’s contract to retired workers. Bank lender CEOs get bailout money, but they can’t keep the contracts they made with retention bonus’s. What’s wrong with this? I don’t have a problem with the retirees keeping there contract (except that I’m paying for it), but if one contract is kept, all contacts are kept, or none if none.
These CEOs where within the law. Obama knew the public would go berserk and used it to humiliated them on television.
As Chrysler goes bankrupt, some creditors take 30% on the dollar to let Chrysler off the hook. Other creditors wanted to wait till after the bankruptcy, where they would get 50 to 70% on the dollar. Obama excoriated the hold outs. Said they were greedy. He warned them on TV, even while they were within the law.
The hold out lenders now have a lawyer representing them with the claim that the Obama administration has directly threatened them. Obama would ruin their reputation. This is Obama’s Modus Operandi. Public Humiliation. He rewards those he likes and punishes those he don’t, damn the laws, and that’s just tyranny.
The UAW is the beneficiary of the alleged threat, and is now 55% owner of Chrysler. I know, I know… “Those creditors are rich bastards and they deserve it”. Well my Commie Lib friend, the law’s the law. You can’t obey the law only when it suits you, but I guess it’s OK to undermine the rule of law if you don’t like it. You’re Commie Lib leader does it. It must be OK.
On May 5th, 2009, Morb said:
On May 6th, 2009, foxwood said:
