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Obama Auto Task Force Labels Chrysler Creditors "Terrorists"

An attorney who is a member of President Obama's auto task force labeled dissident Chrysler bondholders "terrorists". These are the same bondholders that refused to yield to the thuggish tactics of an Obama administration that brought about one of the most radical restructurings and takings in American business history.

Thomas Lauria, the attorney who represents dissident lenders in Chrysler LLC's bankruptcy case, was called "a terrorist" by a member of the Treasury Department's automotive taskforce in an e-mail exchange with a Chrysler adviser.

Matthew Feldman, a taskforce member and Wilkie, Farr & Gallagher LLP bankruptcy partner, made the remark about Lauria, a White & Case LLP partner, in a e-mail to Robert Manzo, a restructuring expert who suggested he could try again to arrange a deal with the holdout lenders the day before Chrysler filed for Chapter 11 protection, the Washington Post reported.

"President doesn't negotiate second rounds...We've protected your management and board. And now you're telling me to bend over to a terrorist like Lauria? That's BS," Feldman wrote.
(emphasis mine)

It is no longer a mystery as to how this administration intends to take over substantial parts of the US economy.The use of brute intimidation, a tincture of lawlessness and leveling the competition are all well tested strategies that the President and his allies in Congress are ready to deploy in their desire to nationalize private industry. With most of the nation's largest banks and the domestic auto industry under their thumb, this is the kind of language we can expect the Obama administration to employ in the battle over healthcare.


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Comments (3)

This is all just setting th... (Below threshold)
CDR M:

This is all just setting the table for an epic failure of this economy. Then the chicken's will really be coming home to roost. Get your guns and ammo now. The clock is ticking.

It's kind of morbid to thin... (Below threshold)
DaveD:

It's kind of morbid to think that an attempt to assert one's due based on legal precedent is now considered a terrorist act in the United States of America. Michelle Obama might finally be proud of this country, but I am ashamed that it has come to this. I am ashamed before the memory of the forefathers and the generations since that have contributed lives to ensure the freedoms that are now being taken from us so easily by this pretender. I am stunned.

"...this is the kind of ... (Below threshold)
Oyster:

"...this is the kind of language we can expect the Obama administration to employ in the battle over healthcare."

We've heard the arguments from the left that since it's the taxpayer's money being used by banks, car companies and various and sundry other businesses, that they should expect a certain level of control by the government over how they do business.

Unfortunately, they haven't translated that in their minds yet into the level of control the government will seize over how health care is dispensed when the taxpayers are funding it too.

I still haven't decided why Obama said what he did about getting health care legislation passed by summer's end; his now-or-never remark. Is he giving them an out because he doesn't really want to tackle it? He's GOT to be feeling the pressure from many quarters about the runaway spending knowing it will only get worse with taking on an even heavier burden. Or is he giving a real ultimatum?

Me? I think he's chickening out.




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