It’s amazing that there is little outrage over what went down with the Chrysler bankruptcy (and later repeated with GM).
See this video where Richard Mourdock highlights the illegal bankruptcy of Chrysler, as dictated by the Obama White House… (He is still pursuing this.)
“The Money, The Principle and The Law”
The Real Story Behind the Chrysler Bankruptcy
Posted by Daniel Ikenson
If you worry about the abuse of executive power and declining respect among elected officials for the rule of law, you should watch this eloquent illumination of what really went down in the Chrysler bankruptcy earlier this year. The speaker is Richard Mourdock, Treasurer of the state of Indiana. The setting is a Cato Institute policy forum on October 15 about the “sordid details of the Bush/Obama auto industry intervention.”
Mourdock’s presentation gives a flavor for the tactics employed by the Obama administration to “encourage” senior, priority creditors to back off their claims so that chosen parties could take priority—tactics that included backroom reminders that some of those creditors had received and might seek more TARP funding, threats of bringing the full weight and measure of the White House press office to bear down on dissenters, public condemnation, and other forms of arm-twisting most Americans would find unseemly for a U.S. presidential administration.
read full article here…The Real Story Behind the Chrysler Bankruptcy | Cato @ Liberty.
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