|
05-04-2009, 03:15 PM
|
|
1/20/09 Destruction of US - Proceeding as planned
|
|
Join Date: May 2007
Location: Chicagoland
20,627 posts, read 6,621,264 times
Reputation: 2656
|
|
"Speculators" (i.e., Chryler INVESTORS) file suit to stop obama from
giving the UAW the sweetheart deal of the century. Totally unconstitutional what his administration is trying to do.
Hot Air » Blog Archive » Senior creditors: Chrysler deal violates 5th Amendment
http://hotair.cachefly.net/images/20...hamendment.pdf
Quote:
|
If the Obama administration expected the senior creditors of Chrysler to fold their tents under political pressure, they may have gotten a rude shock today. Thomas Lauria, who accused the White House of threatening the creditors withn humiliation at the hands of the White House press corps, has filed a motion to halt the administration’s machinations on behalf of the UAW in the Chrysler bankruptcy. Lauria and his allies claim that the Obama administration has violated the Constitution in their bid to devalue the senior creditors’ holdings on behalf of junior creditors, and have some precedent to support the allegation.
|
Quote:
|
One might think that a Constitutional scholar like Barack Obama would have already known that, but either this precedent escaped him or he doesn’t care about it at all. Brandeis acted to uphold contract law, especially in the face of a government interest in paying off politically-connected unsecured creditors ahead of the senior creditors. There is no other reason for Brandeis to make that decision, as only government could insert itself into the contractual relationship during a bankruptcy proceeding — just as Obama has done with Chrysler.
|
The arrogance is breathtaking.
Look in your portfolios - maybe YOU are one of the investors.
|
|
05-04-2009, 04:41 PM
|
|
Senior Member
|
|
Join Date: Oct 2007
1,405 posts, read 533,916 times
Reputation: 276
|
|
Quote:
Originally Posted by sanrene
|
LOL... yeah, maybe you guys are wealthy enough to have invested in a hedge fund... LOL... you guys are too ridiculous for words. I think real Chrysler shareholders would much rather have the company survive... do you know what these hedge funds want? They want the company sold off piece by piece because they will get a higher return than through the current plan. And all they have to do is yell "Unconstitutional" and you knee-jerk conservatives come running like lap dogs. |
|
05-04-2009, 04:49 PM
|
|
Senior Member
|
|
Join Date: Feb 2008
Location: Raleigh, NC
9,047 posts, read 3,445,182 times
Reputation: 1278
|
|
|
Bankruptcy law is quite clear on this. If the president has a problem with it, he can take it up with the SCOTUS. It matters not what the investors want to do with this company, as long as preferred bondholers are paid. Additionally, when Chrysler's assets eventually get sold off, hopefully the purchasers will utilize the infrastructure to build a real car company.
This is why I don't invest a dime in US companies. Until government allows shareholders a say in the company and dividends become more flexible, it's 100% international for me. Returns have been WAY above the Dow this year.
|
|
05-04-2009, 05:51 PM
|
|
Senior Member
|
|
Join Date: Apr 2009
Location: Texas...and proud of it.
721 posts, read 208,792 times
Reputation: 150
|
|
Quote:
Originally Posted by sanrene
|
Just about everything this admin does is in violation of the constitution. |
|
05-04-2009, 05:54 PM
|
|
Hangin' With King Friday
|
|
Join Date: Oct 2006
Location: The Neighborhood of Make Believe
4,837 posts, read 2,848,183 times
Reputation: 1702
|
|
Quote:
Originally Posted by bgibbs42
Just about everything this admin does is in violation of the constitution.
|
And that's next on the list |
|
05-04-2009, 05:56 PM
|
|
Senior Member
|
|
Join Date: Jul 2008
Location: Idaho Falls
5,034 posts, read 1,566,772 times
Reputation: 1431
|
|
|
I see. Michelle Malkin - the woman who claims that imprisoning Japanese-Americans in WWII was a good idea - that's who you go to for commentary on what's legal today?
That explains a lot.
|
|
05-04-2009, 05:58 PM
|
|
Senior Member
|
|
Join Date: Feb 2008
Location: Raleigh, NC
9,047 posts, read 3,445,182 times
Reputation: 1278
|
|
Quote:
Originally Posted by idahogie
I see. Michelle Malkin - the woman who claims that imprisoning Japanese-Americans in WWII was a good idea - that's who you go to for commentary on what's legal today?
That explains a lot.
|
So bankruptcy law should be turned on its head for politics' sake? |
|
05-04-2009, 06:03 PM
|
|
Junior Member
|
|
Join Date: Jun 2008
3 posts, read 3,830 times
Reputation: 10
|
|
Speculators and Fiduciary Responsibility
Quote:
Originally Posted by vsmoove
LOL... yeah, maybe you guys are wealthy enough to have invested in a hedge fund... LOL... you guys are too ridiculous for words. I think real Chrysler shareholders would much rather have the company survive... do you know what these hedge funds want? They want the company sold off piece by piece because they will get a higher return than through the current plan. And all they have to do is yell "Unconstitutional" and you knee-jerk conservatives come running like lap dogs.
|
When underwriting risk a shareholder/speculator/bondholder (s) will often times insure the risk of their capitol by insuring the secured creditor position and possibly have the funds privately insured. Either way, as an investor I would never sacrifice my risk, my investment, my money and my senior creditor position .... for a junior position behind the UAW. I am entitled to be satisfied and not OBAMA AND NOT THE GOVERNMENT AND ESPECIALLY NOT THE UAW. This is what is so horrific in having Government intrusion and Cram downs. My money... my risk... my payback.... my decision.... NOT Obama's.
|
|
05-04-2009, 06:09 PM
|
|
Senior Member
|
|
Join Date: Jul 2008
Location: Idaho Falls
5,034 posts, read 1,566,772 times
Reputation: 1431
|
|
Quote:
Originally Posted by ViewFromThePeak
So bankruptcy law should be turned on its head for politics' sake?
|
Why jump to unsupportable conclusions?
My point was that you shouldn't listen to a total screaming moron like Michelle Malkin for advice on what's legal or not. |
|
05-04-2009, 06:23 PM
|
|
Competition breeds winners
Status:
"Suspended for pointing out a hypocrite!!"
(set 23 days ago)
|
|
Join Date: Sep 2007
17,662 posts, read 6,495,364 times
Reputation: 1837
|
|
Quote:
Originally Posted by vsmoove
LOL... yeah, maybe you guys are wealthy enough to have invested in a hedge fund... LOL... you guys are too ridiculous for words. I think real Chrysler shareholders would much rather have the company survive... do you know what these hedge funds want? They want the company sold off piece by piece because they will get a higher return than through the current plan. And all they have to do is yell "Unconstitutional" and you knee-jerk conservatives come running like lap dogs.
|
Pity for you, the US Supreme Court has already ruled the actions are unconstitutional. Youngstown Sheet & Tube Co. v. Sawyer
Hows it feel to be wrong again?
Last edited by pghquest; 05-04-2009 at 06:38 PM..
|
Please register to post and access all features of our very popular forum. It is free and quick.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
|
|
Welcome to City-Data.com forum! Make sure to register - it's free and very quick! You have to register before you can post and participate in our discussions with 700,000 other registered members. User profiles and some forums can only be seen by registered members. After you create your free account you will be able to customize many options, you will have the full access to over 15,000 posts/day about local topics and you will see fewer ads. 
Linear Mode
