One day, we in America will wake up and on the morning news our Dear Leader will inform us that the banking system will be shut down, the curreny declared worthless and that our local governments will be issuing us ration cards.
he is going after capitalism methodically and in small chunks. The way you selectively knock out support pillars before a controlled demolition.
Never cower to fools.
I do not understand why these fund managers continue to accept the labels the RATS put on them. It is a sure loser. They should refer to themselves as SECURED INVESTORS not hedge fund managers. Furthermore, be accurate in describing what Obama has done. He has PAID OFF HIS UNION SUPPORTERS IN THE UAW AND CHEATED SECURED INVESTORS. HE HAS USED MOB TACTICS BY COMMITTING EXTORTION OF INVESTMENT BUSINESSES, THREATENING TO SLANDER THEM AND RUIN THEIR REPUTATIONS. HE HAS SUBVERTED THE RULE OF LAW BY IGNORING ESTABLISHED BANKRUPTCY PROCEDURES AND ARBITRARILY RULED IN FAVOR OF HIS SUPPORTERS. Stop pu**ying around and play hardball if you want re-establish the rule of law.
Geez.... Obama I s NOT bigger than the Constitution. Hide behind the Constitution and feel safe.....Hedgers.
It would be nice to see some peaceful Counter-demonstrations to any bussed-in anti-hedge-fund rent-a-mobs.
Outraged cowering is pretty hard to pull off convincingly.
http://hotair.com/archives/2009/05/05/lauria-allegations-of-threats-corroborated/
Creditors to Chrysler describe negotiations with the company and the Obama administration as “a farce,” saying the administration was bent on forcing their hands using hardball tactics and threats.
Conversations with administration officials left them expecting that they would be politically targeted, two participants in the negotiations said. …
The sources, who represent creditors to Chrysler, say were taken aback by the hardball tactics that the Obama administration employed to cajole them into acquiescing to plans to restructure Chrysler. One person said 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.
What a crock of s$/t this is. These hedge funds are bondholders of Chrysler and that puts them in line after secured creditors if liquidation occurs. Do they really think there will be any assets left after the secured creditors are paid?
If they don’t like the 30 cents on the dollar deal then they can push for Chapter 7 where they will lose everything. They need to stop the whining and realize the days of 20 to 40 percent returns of their funds based on phantom gains and shadow banking systems are over and tighten the belt with the rest of us.
These guys are indeed holding out for a bailout from the taxpayer! These are the counterparties that get paid when we bail out institutions but they think they can fool the people because they were not “directly” bailed out. They are playing the public for fools and shrouding it with patriotism, rule of law and screaming dictatorship and it’s disgusting.
I know this hedge manager isn’t directly involved with Chrysler....key word “directly”...but I’m sure he’s facing the or has faced the same thing with other bonds he holds in other corporations.
Time to open up what really goes on behind the closed doors of hedge funds and get the transparency rules going. That kind of regulation is loooong overdue.