They aren't just insisting that they stand in front of unsecured creditors. They are insisting the US treasury lend their debtor $8 billion to repay them, without putting its own conditions on the deal. No private creditor in the UST's position would put up with this crap.
Just tell them to lend the car companies the the funds themselves, if they don't like the deal the UST, Fiat, the, unions, and the banks (70% of the creditors by dollar amount BTW) agreed to. Whoops, they aren't ready to do that, are they? Nope. Nor are they ready to see a liquidation. They just want more money from the US treasury.
Why conservatives think that is some great principled cause is beyond me. The same crowd bayed for banker's heads, now they suddenly decide it is high principle that they get another nickel or dime. Its just nuts. You are all being played and used.
We do give a tinkers cuss, JasonC, and that’s why we defend them. Yes, that may be what they want — why wouldn’t they. What we want is one law for all men. Not one man dictating the law to all.
This isn’t about “the big guy” or “the little guy.” It’s about the rule of law and its primacy over the cult of personality surrounding this president.
Ditto. Hedge funds are part of the Wall Street racket. They were created by financiers who told Congress that they should repeal the Glass Spiegel act because the new Wall Street men learned from the Great Depression and banks know how to invest in stocks and etc. Fast forward to 2009 and the country learned it the hard way. Regulations of the past were put in for a good reason. Wall Street and bankers never learned nor changed. Another point, many on Wall Street thought they can own BO by supporting him in the 2008 election. Now BO is beating the crap out of them. I always know there is a God, and of all the places the justice will come from will be from the political party I oppose, the Democrats. As far as I am concern, let Wall Street and the Dems kill each other, the more they fight, the more Americans on Main Street will benefit and get to see justice done.