Posted on 05/05/2009 3:18:06 PM PDT by jimbo123
They have been vilified on message boards and called greedy speculators, criminals and vultures. President Obama says he "does not stand with them." They have received death threats. They're the hedge funds opposed to the Chrysler reorganization, who desperately tried to keep their identities secret to all but the federal bankruptcy court judge overseeing the case.
But the judge, Arthur Gonzalez, isn't buying it. Tuesday, he ruled that the group had until 10 a.m. Wednesday to reveal their identities. The group, which describes itself as the group of creditors that did not have to take federal bailout money under the Troubled Asset Relief program, is trying to block the Obama administration's proposed reorganization of Chrysler.
In court documents Tuesday, attorneys for the so-called "non-TARP" creditors, who own $300 million of secured debt, said intensifying pressure and name calling by the government threatened to harm them if their identities became public.
The Chrysler non-TARP lenders are afraid," the court documents say. They cannot argue against the proposed bankruptcy "if that means being subjected to heavy-handed tactics that will threaten their business and safety."
(Excerpt) Read more at forbes.com ...
The fix is in. Chrysler is going to be sold to Fiat over any objections. It is amazing to see how this works anymore, WAMU was the same way. Right place, right time, right bribe, and someone makes a fortune.
“Both were voters for Obama in the last election.”
They voted for a marxist, they got a marxist. Their surprise is what is surprising to me.
hate to say this but they do have to be public. That said, if they can SHOW they are being threatened or harrassed then those doing that on behalf of other creditors can be sanctioned.
Bankruptcy judges can have some serious fun with sancitons.
:-(
>>Bankruptcy files are public records. Sealing these guys identities would be highly, highly unusual. I dont read anything into this decision.<<
I’m with you on this. This is not an Obama victory, this is a simple common sense victory.
actually this is a seperation of powers issue.
Obama is trying to circumvent the law and the courts.
By using “self help” tactics Obama is essentially imposing an thug imperial presidency.
Obama is a lawyer.
Is he still licensed? if he is conducting such “self help” then a bar complain is in order. (remember clinton?)
I think this is being spun as a obama victory.
Obama is adopting the illusion of madman.
In the end Obama is working out to be the illiterate courtroom lawyer who has no real knowledge of the law, incompetent in pursuing proper civil procedure rules, and could not argue a motion to save his life. HOWEVER, his entire presidial skills are based on “nusance value”. He wants to get his left wing socialist way because if you refuse him he will be a nusance.
The only way lawyers like that get ahead is when they have a client who has no case law in their favor, they know there is no case law in their favor, and their hire such a “disposable” attorney to throw a spanner into the court system’s works.
bttt
I’m going to be very interested in seeing what the bankruptcy judge does.
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