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After the bailouts, etc. the govt now "owns" what percentage (I forget) in banks & car companies.
* The govt doesn't have a great track record in running fiscal matters
* Would love to hear what a Constitutional expert has to say about how/if these powers are allowed under our Constitution
* Can't believe American citizens are not outraged that Obama & staff are allowed to dictate actions to private companies
* The unions are going to get 55% of Chrysler while investors are told to take a loss - take 29 cents on the dollar.
* Some banks which did not need/want bailout money were "forced" to take it.
* Banks now wanting to give the TARP money back are not being allowed - the Feds won't let them.
* At one time Joe Citizen and Investors may not have believed the statement that the govt threatened to use the WH press corps to ruin a company's reputation if they did not play ball with the Feds. However, with all the govt has been doing - it is not hard to believe.
Oh boy, this should have private investors running to invest in anything which the govt may have a hand in - NOT!
US citizens better get ready to open their pockets - if investors turn away from investing in businesses, the businesses are either going to be hurting even more or someone - the citizens - will have to pay via investing, taxes, or increased job losses.
From what I have heard, Tom Lauria is a very well respected, top tier lawyer, so if he makes public statements like these, they should be taken very seriously.
Exactly what I was thinking when I heard the audio of this. Who in their right mind would make such a statement if it were not true.
This type of White Housing is not going to fly well with the people where would it end where would the line be drawn what would be enough.
I did hear some media state that a president sayting such things in a speech has not been hear since Nixon declared a person guilty before trial . The speaach in IMO was basically used to enregae the madeening crowd mentality we have seen used lately.Rememebr the Doddd incident and waht at the same time they wre saying and actually doing. Its just a example of what Obama learned in Chicago politics. Look at the record of his first sate senate reace and how he eliminated the other democratic opponents by challenging the voter list of two other minorites.
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.
More than one player is now confirming the thuggish tactics of the WH.
And you think that business interests aren't attempting to exert their power with regards to thwarting the people's interest and you also think that this isi some unprecedented exercise of the political power of the Presidency?
Tomorrow when I have a bit more time, I will provide copious examples throughout the history of the Presidency.
More than one player is now confirming the thuggish tactics of the WH.
This is absolutely unacceptable behavior!
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