To: Reagan69
KEY QUOTE:>
A group of Indiana pension funds argued that the sale of Chrysler unlawfully rewards unsecured creditors ahead of secured lenders and amounts to an illegal reorganization plan, and that the U.S. Treasury Department overstepped its legal authority by using bailout funds for Chrysler when Congress intended the money for banks.
Unlawfully rewards unsecured creditors = UAW
They shouldn't get a dime and infact should be shown the door, there are a lot of folks around without jobs that would love to join a non-union shop and help make America better.
81 posted on
06/08/2009 1:39:41 PM PDT by
Scythian
To: Scythian
What they really argued is that the deal was a scam, designed to bilk the mortgage company, while giving all the proceeds from the sale of the house to the maid.
And it was.
84 posted on
06/08/2009 1:43:28 PM PDT by
patton
(Obama has replaced "Res Publica" with "Qoud licet Jovi non licet bovi.")
To: Scythian
"Unlawfully rewards unsecured creditors = UAW " This is outright theft by the Obamaites to reward their political allies, the unions, with investors money.
They ought to all go to jail for attempted theft.
246 posted on
06/08/2009 7:54:02 PM PDT by
blam
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson