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May 06, 2009
Obama and White House Threats Over Chrysler
Megyn Kelly and Neil Cavuto Interview Tom Lauria Over Fascist White House Threats To Chrysler Creditors
Laurie has said :
"One of my clients was directly threatened by the White House and, in essence, compelled to withdraw its opposition to the deal under the threat that the full force of the White House press corps would destroy its reputation if it continued to fight." --Attorney Tom LauriaAs I posted about in this post, an interview that Mark Levin had done.
Chrysler Lender Attorney "White House Directly Threatened My Client"
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From the May 4 broadcast of Premiere Radio Networks' The Rush Limbaugh Show:
LIMBAUGH: Now we know, ladies and gentlemen, I was right. Now we know, beyond a shadow of a doubt, I was right; option number three: They are scared to death. My buddy Frank Beckmann at WJR in Detroit interviewed one of the bankruptcy lawyers for one of the bondholders at Chrysler, one of the clients. His name is Tom Lauria.
Tom Lauria said, "Let me tell you, it's no fun standing on this side of the fence opposing the president of the United States. In fact, let me just say people have asked me who I represent. That's a moving target. I can tell you for sure that I represent one less investor today than I represented yesterday. One of my clients was directly threatened by the White House and, in essence, compelled to withdraw its opposition to the Chrysler deal under the 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."
And Frank Beckmann said, "Was it Perella Weinberg?" Lauria says, "It was Perella Weinberg."
Now, this happened in Friday -- on Friday in Detroit. It's made the news throughout the weekend. I -- so here's -- now the White House, by the way, is denying all of this, but there's a pattern here, ladies and gentlemen, that sort of gives the lie to the denial. I mean, this is -- we've referred to the situation that's going on in Washington as loan-sharking, Obama loan-sharking people.
Basically what happened was, as we mentioned last week, the bondholders, the investors at Chrysler, were leaned on by Obama and called out personally by the name of hedge funds and they were selfish and they were holding out for a better deal. These people were forced to settle for 20 to 30 cents on the dollar, while the UAW was made whole in the whole thing. And the lawyer, Thomas Lauria, now says that his client was threatened with reputation ruination from the White House press corps.
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Wild Thing's comment...........
This guy is scared one can feel coming from him. and so are the clients he is representing on this.
And lastly look at this:
New Allegations Of White House Threats Over Chrysler
"The sources, who represent creditors to Chrysler, say they were taken aback by the hardball tactics that the Obama administration employed to cajole them into acquiescing to plans to restructure Chrysler. One person described the administration as the most shocking “end justifies the means” group they have ever encountered. Another characterized Obama was “the most dangerous smooth talker on the planet- and I knew Kissinger.” Both were voters for Obama in the last election."
"One participant in negotiations said that the administration's tactic was to present what one described as a "madman theory of the presidency" in which the President is someone to be feared because he was willing to do anything to get his way. The person said this threat was taken very seriously by his firm."
The White House has denied the allegation that it threatened Perella Weinberg.
Last week Obama singled out the firms that continue to oppose his plan for Chrysler, saying he would not stand with them. Perella Weinberg says it was convinced to support the plan by this stark drawing of a line between firms that have the president's backing and those that did not. They didn't want to be on the wrong side of Obama. Privately, administration officials have expressed confidence that other firms will switch sides for this reason.
These allegations add to the picture of an administration willing to use intimidation to win over support for its Chrysler plans--and then categorically deny it.
Posted by Wild Thing at May 6, 2009 05:44 AM
Comments
I saw an article yesterday that the rate the White House wanted was 29 cents on the dollar. The lawyers had offered 50 cents on the dollar. The offer by Lauria's group covers legal fees and some of the cost of losing the money through the Bankruptcy. They are suppose to be filing for a re-organizing chapter instead of going out of business. But obama wants this to be a freebee for the Union bosses, and the Unioin will not have to take any cuts to help in the process to get Chrysler back on its feet.
The threats are Union based. Just like AIG and their bonuses. The White House is giving marching orders to the Unions to put pressure on the Hedge Funders and the Lenders and threatening their lives is not excluded.
Since when does the President get involved in private contracts with Private companies. The Unions own obama and this is where it is coming from.
Posted by: Mark at May 6, 2009 07:44 AM
I agree Mark, everything Obama has done has the hand of thuggery about it. He has surrounded himself with like minded thugs. Not only does he offer $.29 on the dollar he wants to convert preferred stock to common stock, that way when it comes to liquidation, all stockholders get stiffed, leaving the unions in charge ensures compliance with the left's agenda of nationalization of the industry.
A merger with Fiat for Chrysler and GM ensures the rattiest piece of shit on wheels for the consumer as an option. Daimler bailed out as a major stakeholder because of the unions and has remained a minority stakeholder, primarily because nobody would buy their debted shares.
ABC News April 30, 2009 12:20 PM
President Obama today announced his support of Chrysler going into bankruptcy –- a move he said will give the “icon of America’s auto industry” a “new lease on life.”
“Over the past month, seemingly insurmountable obstacles have been overcome,” President Obama said, noting that from UAW to Chrysler’s largest stakeholder, they agreed to major sacrifices during the 30 days the president imposed on them. “So, today, I am pleased to announce that Chrysler and Fiat have formed a partnership that has a strong chance of success.”
"The president today said that the partnership was made possible by the sacrifices of some shareholders –- and specifically mentioned UAW, JPMorgan and the German automaker Daimler -– as key in making this progress."
I don't foresee a Chrysler or GM product in my future. The last Dodge I owned I had to limp back to the dealer with 148 miles on the vehicle for extensive warranty work, I own a Ford that I poured thousand$ into to get the bugs out, it's not for sale. I lucked out on a Jeep, purchased just before Daimler got involved, it is a solid product that is better than the production runs before or after it was made. All are long in the tooth but I just can't see over a third of the vehicle costs going to union welfare and payments to non producers in addition to manufacturing labor costs and materials.
Posted by: Jack at May 6, 2009 09:23 AM
Mark, thanks for the information.
It sure is different now, with the way
Obama puts his ugly fingers into all the
companies like this. Big brother by the
name of Hussein Obama.
Posted by: Wild Thing at May 6, 2009 11:52 PM
Jack, I bought my Grand Jeep Cherokee Limited
when Daimler was still with the company.
I think it was just a little while afterward
that Daimler did like you said and bailed
out.
Posted by: Wild Thing at May 6, 2009 11:55 PM
