Wouldn't be the first time that has happened. Remember the White House Travel Office?

Would these clients be the hedge fund operators who were deliberately holding out in order to profit from another government bailout? Tiny violin and whatnot.

Well I for one believe a bankruptcy lawyer.

Mentat: Would these clients be the hedge fund operators who were deliberately holding out in order to profit from another government bailout? Tiny violin and whatnot.

Actually, it was senior creditors like the Yale Endowment, the University of Kentucky Endowment, and the Bill & Melinda Gates Foundation who foolishly believed that the rule of law would obtain. Meanwhile bailed out creditors got lauded for not biting the hand that feeds them and were rewarded accordingly.

they call him "doughy justice".

MuadDib: Actually, it was senior creditors like the Yale Endowment, the University of Kentucky Endowment, and the Bill Stephen & Melinda Gates Foundation who foolishly believed that the rule of law would obtain. Meanwhile bailed out creditors got lauded for not biting the hand that feeds them and were rewarded accordingly.

FTFY

cousin-merle: MuadDib: Actually, it was senior creditors like the Yale Endowment, the University of Kentucky Endowment, and the Bill Stephen & Melinda Gates Foundation who foolishly believed that the rule of law would obtain. Meanwhile bailed out creditors got lauded for not biting the hand that feeds them and were rewarded accordingly.

FTFY

According to Bloomberg, you broke it for me (^):

Chrysler LLC's secured lenders include Yale University, Oaktree Capital Management and assets managed for the University of Kentucky, Halliburton Co., Kraft Foods Master Retirement and the Bill and Melinda Gates Foundation (^), according to a court filing in the carmaker's bankruptcy. [Emphasis added.]

Naturally, I concede the possibility that a MSM outlet is in error, but I accurately quoted my source in my post.

Well that's a little scary, despite the comical mental imagery.

How is this asinine? Like it or not, the taxpayers have a stake in how this turns out. I'm glad that my representatives in Government are aggressively looking out for my interests in this matter. If that requires some arm twisting, fark 'em.

Dinki: Well I for one believe a bankruptcy lawyer.

Screw that, i would rather put the fate of the nation in the hands of a community organizer.

Hmm.... Anyone care to explain how this is a bad thing?

MuadDib: According to Bloomberg, you broke it for me (^):

Chrysler LLC's secured lenders include Yale University, Oaktree Capital Management and assets managed for the University of Kentucky, Halliburton Co., Kraft Foods Master Retirement and the Bill and Melinda Gates Foundation (^), according to a court filing in the carmaker's bankruptcy. [Emphasis added.]

Naturally, I concede the possibility that a MSM outlet is in error, but I accurately quoted my source in my post.

You don't watch much teevee, do you?

Thune: Dinki: Well I for one believe a bankruptcy lawyer.

Screw that, i would rather put the fate of the nation in the hands of a community organizer.

So would I.

Eddie Adams from Torrance: How is this asinine? Like it or not, the taxpayers have a stake in how this turns out. I'm glad that my representatives in Government are aggressively looking out for my interests in this matter. If that requires some arm twisting, fark 'em.

Yeah, nothing could possibly go wrong with the federal government extorting private citizens and corporations into accepting pennies on the dollar for legal, contractual obligations. If you want to talk socialism, it's hard to get more socialist than strong-arming corporate creditors out of legally owed money in order to hand over majority share of the company to the workers (UAW) themselves. That's pretty much the definition.

Mentat: Would these clients be the hedge fund operators who were deliberately holding out in order to profit from another government bailout?


Why shouldn't the taxpayer have a voice in this? We're footing the bill. And yeah, that voice includes the one from behind the bully pulpit. It's not as though the Corporate Socialists who just raped the world economy don't have their own press corps - a la CNN, FOX, CBS, ABC, NBC et al.

Fark these corporate swine who act as though they deserve anything less than the contempt and ire of an entire world. They're lucky they're not upside down in a tree with a fork in their asses.

oh noes! my reputation!

MuadDib: cousin-merle: MuadDib: Actually, it was senior creditors like the Yale Endowment, the University of Kentucky Endowment, and the Bill Stephen & Melinda Gates Foundation who foolishly believed that the rule of law would obtain. Meanwhile bailed out creditors got lauded for not biting the hand that feeds them and were rewarded accordingly.

FTFY

According to Bloomberg, you broke it for me (^):

Chrysler LLC's secured lenders include Yale University, Oaktree Capital Management and assets managed for the University of Kentucky, Halliburton Co., Kraft Foods Master Retirement and the Bill and Melinda Gates Foundation (^), according to a court filing in the carmaker's bankruptcy. [Emphasis added.]

Naturally, I concede the possibility that a MSM outlet is in error, but I accurately quoted my source in my post.

lololololol

i'm pretty sure cousin-merle is right

Lost Thought 00: MuadDib: According to Bloomberg, you broke it for me (^):

Chrysler LLC's secured lenders include Yale University, Oaktree Capital Management and assets managed for the University of Kentucky, Halliburton Co., Kraft Foods Master Retirement and the Bill and Melinda Gates Foundation (^), according to a court filing in the carmaker's bankruptcy. [Emphasis added.]

Naturally, I concede the possibility that a MSM outlet is in error, but I accurately quoted my source in my post.

You don't watch much teevee, do you?

No, I don't actually. As such, I have no idea what that means, so here's a picture of Obama with a pancake on his head.

I for one welcome our new socialist overlord.

TheBigBadCrystallineEntity: I for one welcome our new socialist overlord.

Psst. they are going to bankruptcy court.

Is bankruptcy court now socialism too?

It's hard to keep track.

MuadDib: No, I don't actually. As such, I have no idea what that means, so here's a picture of Obama with a pancake on his head.

It's a Colbert bit

Corvus: Is bankruptcy court now socialism too?

It's hard to keep track.

Haven't you heard? Anything that is anyway connected to the government, no matter how tenuous, is now socialism.

/except the military, of course.

Corvus: TheBigBadCrystallineEntity: I for one welcome our new socialist overlord.

Psst. they are going to bankruptcy court.

Is bankruptcy court now socialism too?

It's hard to keep track.

More of a comment on government messing in private business. They should have been left to fail. But now those companies get to live with the government calling the shots. Bankruptcy would have been so much better for everyone in the long term.

You want to give aspersions tooth?
You'd best be ready to bring proof

Kierkegaard's Pseudonym: Yeah, nothing could possibly go wrong with the federal government extorting private citizens and corporations into accepting pennies on the dollar for legal, contractual obligations. If you want to talk socialism, it's hard to get more socialist than strong-arming corporate creditors out of legally owed money in order to hand over majority share of the company to the workers (UAW) themselves. That's pretty much the definition.

Did I find them all?

/Is this how it works?

TheBigBadCrystallineEntity: I for one welcome our new socialist overlord.

Yeah... That socialism works really well. The Soviet Union was a veritable cornucopia of freedoms and successes.

Okay, fine.

Christ, this is a station that provides airtime for Rush Limbaugh and Sean Hannity - like there is any credibility there.

If you have some credible evidence, put it in the public domain.
If not, you're talking "Whitey Tapes" as far as I'm concerned.

Corvus: TheBigBadCrystallineEntity: I for one welcome our new socialist overlord.

Psst. they are going to bankruptcy court.

Is bankruptcy court now socialism too?

It's hard to keep track.

Did you miss the entire chain of events? The White House was attempting to force the creditors to accept 33 cents on the dollars for all credit. The only reason it's going to Bankruptcy court is some creditors said no to the deal. Please do pay attention.

TheBigBadCrystallineEntity: They should have been left to fail. But now those companies get to live with the government calling the shots. Bankruptcy would have been so much better for everyone in the long term.

Ah, so the investors who are looking to get a better deal than what bankruptcy court would have given them would have been better off going to bankruptcy court?

I'm sorry, can you spell that out a little better?

Stop throwing my WENUS out of whack.

But...change...hope...changey hope!

UnspokenVoice: TheBigBadCrystallineEntity: I for one welcome our new socialist overlord.

Yeah... That socialism works really well. The Soviet Union was a veritable cornucopia of freedoms and successes.

Is this a counter-troll or just plain stupidity?

Random Reality Check: TheBigBadCrystallineEntity: They should have been left to fail. But now those companies get to live with the government calling the shots. Bankruptcy would have been so much better for everyone in the long term.

Ah, so the investors who are looking to get a better deal than what bankruptcy court would have given them would have been better off going to bankruptcy court?

I'm sorry, can you spell that out a little better?

Can you cite the sources on what the creditors would receive in bankruptcy? There hasn't been any settlements yet. The only known variable is how much the White House was asking creditors to settle for in order to avoid bankruptcy.

save russian jews: UnspokenVoice: TheBigBadCrystallineEntity: I for one welcome our new socialist overlord.

Yeah... That socialism works really well. The Soviet Union was a veritable cornucopia of freedoms and successes.

Is this a counter-troll or just plain stupidity?

I'm going for plain stupidity.
We have a lot of that here.

TheBigBadCrystallineEntity: They should have been left to fail

Yes, because when the economy is on the edge of a depression, allowing one of the largest industries in the country to collapse would have been just peachy. And after the rest of the economy had collapsed for the next 10 years we could have sat around telling ourselves "at least the government didn't mess with private business".

It's all well and good to allow companies to collapse when the rest of the economy is healthy enough to handle it. It's supremely irresponsible for any government to allow the economy to collapse when it can prevent it.

Could I BE any more menacing?

Kierkegaard's Pseudonym: Eddie Adams from Torrance: How is this asinine? Like it or not, the taxpayers have a stake in how this turns out. I'm glad that my representatives in Government are aggressively looking out for my interests in this matter. If that requires some arm twisting, fark 'em.

Yeah, nothing could possibly go wrong with the federal government extorting private citizens and corporations into accepting pennies on the dollar for legal, contractual obligations. If you want to talk socialism, it's hard to get more socialist than strong-arming corporate creditors out of legally owed money in order to hand over majority share of the company to the workers (UAW) themselves. That's pretty much the definition.

It's not extortion, it's called "the Bully Pulpit" and it is one of the more powerful tools of any president. The creditors were free to exercise their rights to try to derail this bankruptcy for personal gain and Obama was free to express, publicly his disapproval of such actions. As the elected representative of the American people, Obama has the power and duty to speak out against those whose actions he feels are hurting the country.

Dinki: Haven't you heard? Anything that is anyway connected to the government, no matter how tenuous, is now socialism.

Unless you are purposefully not trying to pay attention, it's hard to argue that the government's Chrysler intervention is anything but socialism. When the government props up a company in order to facilitate a collective 65% ownership stake (between the workers and government itself), and publicly demonizes firms (holding ostensibly secured debt) for not bowing to its tactics, we're not even in the ballpark of capitalism. It's essentially a bloodless proletariat coup aided by the government.

I'm thinking the words "They wanna play hardball? We'll play hardball" was used several times by both parties. Like in the movies.

Remove all Republicans: UnspokenVoice: TheBigBadCrystallineEntity: I for one welcome our new socialist overlord.

Yeah... That socialism works really well. The Soviet Union was a veritable cornucopia of freedoms and successes.

If you're think we're any better, you're just naive. Same problems, different branding.

Shut up, RaR, you cock.

Kierkegaard's Pseudonym:
Yeah, nothing could possibly go wrong with the federal government extorting private citizens and corporations into accepting pennies on the dollar for legal, contractual obligations.

How exactly do you think Bankruptcy works?

Hint: the federal government forces private citizens and corporations into accepting pennies on the dollar for legal, contractual obligations.

Kierkegaard's Pseudonym: Unless you are purposefully not trying to pay attention, it's hard to argue that the government's Chrysler intervention is anything but socialism.

Wow.

Good Job White House.

Flex the muscle more against these greedy bastards.

At this point these crack heads should get 5 cents on the dollar at most.

Kierkegaard's Pseudonym: Dinki: Haven't you heard? Anything that is anyway connected to the government, no matter how tenuous, is now socialism.

Unless you are purposefully not trying to pay attention, it's hard to argue that the government's Chrysler intervention is anything but socialism. When the government props up a company in order to facilitate a collective 65% ownership stake (between the workers and government itself), and publicly demonizes firms (holding ostensibly secured debt) for not bowing to its tactics, we're not even in the ballpark of capitalism. It's essentially a bloodless proletariat coup aided by the government.

This damn farking Socialist would like to kick your ass.

Random Reality Check: Okay, fine.

Christ, this is a station that provides airtime for Rush Limbaugh and Sean Hannity - like there is any credibility there.

If you have some credible evidence, put it in the public domain.
If not, you're talking "Whitey Tapes" as far as I'm concerned.

In terms of attacks on a source's credibility, that's pretty weak. The audio isn't from Rush's or Hannity's show, it's from Frank Beckmann's. And it's a recording of a conversation with the original source. Did the station audio-edit this, or how did they exert their scary influence?

/Or was this a troll?

Kierkegaard's Pseudonym: Unless you are purposefully not trying to pay attention, it's hard to argue that the government's Chrysler intervention is anything but socialism. When the government props up a company in order to facilitate a collective 65% ownership stake (between the workers and government itself), and publicly demonizes firms (holding ostensibly secured debt) for not bowing to its tactics, we're not even in the ballpark of capitalism. It's essentially a bloodless proletariat coup aided by the government.

There's plenty of stupidity in this thread to go around. I mean we're even forgetting the people who believe that these corporations were somehow hoping for a government bailout and are simply a single rich white guy.

These are 401K's we're talking about, you know, peoples retirement. Is there anything wrong with a company expecting the rule of law to apply and holding out for the best interest of their customers? (i.e. YOU AND ME)

Anyone who doesn't see this as unacceptable is just loony.

Construction on JFK Airport began in 1943.

Kierkegaard's Pseudonym: Dinki: Haven't you heard? Anything that is anyway connected to the government, no matter how tenuous, is now socialism.

Unless you are purposefully not trying to pay attention, it's hard to argue that the government's Chrysler intervention is anything but socialism. When the government props up a company in order to facilitate a collective 65% ownership stake (between the workers and government itself), and publicly demonizes firms (holding ostensibly secured debt) for not bowing to its tactics, we're not even in the ballpark of capitalism. It's essentially a bloodless proletariat coup aided by the government.

The only thing about that, though, is that Chrysler asked for this. They were within days of outright failure and the subsequent loss of thousands of jobs and any possibility of future profit, so the management ran to the government with their hands out. The inability of Chrysler to continue to function in any form without the government (as of six months ago) sort of undermines any "socialist crusade" storyline that anyone might try to conjure.

Whether it's appropriate policy or not is a different issue, but considering the already-made and irrevocable decision to help the car companies with taxpayer money, I'd say that whatever tactics the White House has to use to protect the taxpayers are appropriate.

Organized Administration.

Organized Labor.

Organized Crime.

Bacon is not Your Buttie: How exactly do you think Bankruptcy works?

Hint: the federal government forces private citizens and corporations into accepting pennies on the dollar for legal, contractual obligations.

Umm, not exactly; a non-partisan judge would decide who gets what, and generally preferred stock is given the front row. The companies will get a better deal from a Bankruptcy judge than they will from an Administration intent upon paying back the Unions for helping them get elected.