Did Don Zero lean on the judge?
Bankruptcy files are public records. Sealing these guys’ identities would be highly, highly unusual. I don’t read anything into this decision.
No? You wanna keep it up? Well, this government will just go ahead and slander you as well. We'll tell the whole world who the greedy SOBs are that caused all of this. Go ahead, keep it up, Hedgefund Guy. You ever hear of the I-R-S?
(sigh)
This brownshirt stuff had better stop and awfully go**amned fast.
#
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.
I'll bet "greedy speculators" pay a whole heck of a lot in TAXES....or they did....payback is gonna be a b*tch
Are the bond holders planning a class action suit?
The ACORN buses are warming up.
“They have received death threats.”
What kind of dumb b____ds would do something like this? This is still a country of laws, to Hell with these thugs!
I never thought I would see this day in the USA. I was so secure in my naive certainty!
The age of thugocracy has finally arrived at the doors of this most solid, strong, prosperous, country in the history of the world.
What will this do to future private ‘investment’? It’ll dry up pretty fast...
My question is what would possess supposedly smart money men to loan money to Chrysler in the first place? I understand that they thought they would still get paid if it failed, but the whole industry in America has been comatose and on life support for years.
ANOTHER STORY ABOUT THE JUDGE
http://www.istockanalyst.com/article/viewarticle/articleid/3218324
For Now, Judge Gonzalez Siding With Chrysler Creditors
By: Tyler Durden Tuesday, May 05, 2009 10:21 AM
Sectors: Finance
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In an event that just as easily may not have occurred, Judge Gonzalez presiding over the boiling hot Chrysler bankruptcy, has sided with an objection of the Chrysler Non-TARP creditors (aka abominable hedge funds). The issue at hand was a request for a delay of the hearing on Section 363 bidding procedures from today until tomorrow at 2:30 pm. If Lehman’s bankruptcy is any indication, this is the kind of objection that would have been quickly steamrolled by Judge Peck on his route to bankruptcy Superstardom (the latter has used the words “biggest bankruptcy in history” approximately 240 times to date, according to docket records). Could it be that Gonzalez is actually an adherent to due process and will give both sides in this bankruptcy a fair chance?
Either way, as Zero Hedge speculated yesterday, today’s court hearing was indeed a mini drama after Tom Lauria disclosed to Judge Gonzalez that some Chrysler creditors had received death threats. While the threats have been referred to the FBI, it is obvious why Lauria is set on keeping the identities of the 20 hold outs secret at this point.
Among the other disclosures today was the statement by Robet Manzo of Capstone that not only is the U.S. government not charging interest on the Chrysler DIP but that there is a “low probability” that Chrysler would be able to repay the loan. This means that the UST could lose as much as $8 billion in this bankruptcy, an amount which includes the $4 billion already loaned in January. Also uncovered was the new projection for legal fees associated with the Chapter 11, which has grown from $20 million a week ago to a cool $30 million currently (this is not the last iteration of the number).
Lastly, Corinne Ball of Jones Day had this to say about the situation:
“The survival of Chrysler’s business is at stake in these proceedings, as is the fate of hundreds of suppliers and thousands of Chrysler dealers around the country. Absent immediate action, (Chrysler) will lose the only opportunity available to them to preserve their business as a going concern and to avoid the economic devastation that will occur if Chrysler’s business, and Chrysler’s suppliers and dealers, are forced to shut down.”
These are, almost verbatim, the same words used by Harvey Miller, Lori Fife and Shai Waisman when the Weil Gotshal legal team steamrolled through any and all objections to sell Lehman’s Broker Dealer division a mere 4 days after the bankruptcy filing (and with uber-Judge Peck’s blessings all the way). It is yet to be seen how quickly Gonzalez caves.
FROM ANOTHER HEADLINE........IS THIS IN OUR FUTURE?
“Georgia Says Coup Underway at Military Base”
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.