Chrysler Bankruptcy Exposes Dirty Politics - CBS News
WOW, Dan Rather would have a cat. The loyal lefty memo forgers are willing to point out that BO is illegally paying off folks that supported his campaign. I'm not talking about "illegal" because this simple "pay for play" as politicians tend to do constantly, but because the Sr Creditors had a CONTRACT -- and they were NOT "speculators" any more than any other investor, and far less than most. In fact ANY stock holder is FAR more a "speculator" (as if that was a bad thing) than ANY bondholder.
Read the whole article, here are a few quotes. The very idea that someone at CBS would know about the Federalist Papers and ideas like "contracts" and "rule of law" is enough to make one wonder if reform of even the dregs isn't possible once a vermin like Gunga Dan has vacated!
WOW, Dan Rather would have a cat. The loyal lefty memo forgers are willing to point out that BO is illegally paying off folks that supported his campaign. I'm not talking about "illegal" because this simple "pay for play" as politicians tend to do constantly, but because the Sr Creditors had a CONTRACT -- and they were NOT "speculators" any more than any other investor, and far less than most. In fact ANY stock holder is FAR more a "speculator" (as if that was a bad thing) than ANY bondholder.
Read the whole article, here are a few quotes. The very idea that someone at CBS would know about the Federalist Papers and ideas like "contracts" and "rule of law" is enough to make one wonder if reform of even the dregs isn't possible once a vermin like Gunga Dan has vacated!
Rep. John Dingell, a Michigan Democrat, sent reporters a statement calling the creditors "vultures" and "rouge hedge funds." Michigan Gov. Jennifer Granholm piled on, taking aim during her radio address at a "few greedy hedge funds that didn't care how much pain the company's failure would have inflicted on families and communities everywhere."
It must be a coincidence that the United Auto Workers has handed $25.4 million to federal politicians over the last two decades, with 99 percent of that cash going to Democrats. And that Mr. Obama's final campaign stop on Election Day was a UAW phone bank.
"I represent one less investor today than I represented yesterday," Lauria said on a Detroit radio show. "One of my clients was directly threatened by the White House and in essence compelled to withdraw its opposition to the deal under threat that the full force of the White House press corps would destroy its reputation if it continued to fight. That's how hard it is to stand on this side of the fence." Lauria said that his clients were willing to compromise on 50 cents on the dollar, but the government offered them only 29 cents.
In the Federalist Papers in 1788, James Madison wrote that "laws impairing the obligation of contracts are contrary to the first principles of the social compact, and to every principle of sound legislation." Unfortunately, Washington politicians seem to pay little attention to history, morality, or the rule of law.
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