Monday, June 15, 2009

Obama Administration Attorney Called Mourdock's Attorney In Chrysler Bankruptcy A Terrorist

Remember a few years back when Gov. Mitch Daniels caught all kinds of flack from the Democrats for comparing House Speaker Pat Bauer's actions to those of a roadside bomber? Well, a member of the Obama administration's auto task force referred to Thomas Lauria, the attorney who represented Indiana State Treasurer Richard Mourdock's challenge of the Chrysler bankruptcy as a terrorist. The Wall Street Journal blog quotes attorney Matthew Feldman:

“President doesn’t negotiate second rounds…We’ve protected your management and board. And now you’re telling me to bend over to a terrorist like Lauria? That’s BS,” Feldman wrote.

Feldman dismissed any hopes of reaching an 11th-hour agreement that could have avoided bankruptcy for the Detroit auto maker. It’s over…I am not talking to you,” Feldman wrote to Manzo, an executive director with Capstone Advisory Group LLC.

A group of dissident lenders, holding a portion of Chrysler’s $6.9 billion in secured debt, rebuffed the Treasury’s final offer for secured lenders to exchange what they were owed for $2.25 billion in cash. President Barack Obama blamed those holdouts for pushing Chrysler into bankruptcy.

The lenders, owed about $300 million, attempted in bankruptcy court to block the sale of Chrysler’s assets to an entity-tied with Fiat SpA, but backed down shortly after U.S. Bankruptcy Judge Arthur Gonzalez ordered the lenders, known as the Chrysler non-TARP lenders, to reveal their identities.

Lauria’s law firm, however, resurfaced later in Chrysler’s Chapter 11 case to represent another holdout group of lenders: Indiana pension funds that had invested in the auto maker’s senior loans. The state pension funds have said Chrysler’s bankruptcy-restructuring plans are unconstitutional.

5 comments:

Downtown Indy said...

I'm not surprised this administration views normal healthy operation of the country's judicial system with disdain.

Rule of Law? Not on PrezBo's watch.

Baloo said...

I am trying to figure out why I am not surprised or shocked in such statements by President Obama's administration. Am I just giving up? Have I just lost all hope?

Shorebreak said...

The federal government steps into private business and tries to force lenders to accept 1/3 of what they're owed. When the lenders refuse to accept the raw deal, forced upon them by a government who has no business involving itself, the people who are getting screwed out of their money are labeled terrorists. Someone named Orwell once labeled that kind of language "doublespeak".

I have to wonder ...if there's ever a push to limit the 1st or 2nd amendment, does anyone think that those who actively protest will also be labeled as terrorists? Right wing extermists? Enemies of freedom? I'm seeing more and more media reports stating that extremism is reaching the US. Are the mindless masses being prepared to help eliminate folks who protest the elimination of our Republic - the new terrorists?

Downtown Indy said...

Orwell gave us 'newspeak', 'oldspeak' and 'doublethink.'

Newspeak does match Prezbo's intent and purpose, however.

And I would classify 'bailouts' as doublethink, as they clearly embody contradictory thoughts simultaneously.

Dana said...

I'm not surprised that certain people here (obviously not working in manufacturing) on this comment list are still rooting for car companies to fail.

Well how about this, you Dittohead Sheeple? Your lawyers, hired by the State of Indiana, cost us two million dollars for a failed attempt to get the Supreme Court to junk the Chrysler bankruptcy. Best case, the Indiana pension funds were set to get six million dollars back. So, your state government, in a typical, stupid, Republican ploy to grab headlines cost the pension funds a third of the money they were going to get back. And, if they had succeeded in getting the Chrysler bankruptcy held up and Fiat folded up the table and quit? The pension funds stood to get pretty much NOTHING.

So you tell me, friends of that bloated corpse Limbaugh and Greg the Moron Garrison, why aren't you screaming about the lost two million?

The truth is, your state here bought extremely high risk "securities" from a failing car company for our PENSION FUNDS and then lost another two million in another bad gamble.

FAIL!

Sincerely,

Dana Curtis Kincaid, Indianapolis, Indiana, 46219