So far there is nothing in your record that suggests that you would lift a finger.
Liberty is liberty even when it does not come affixed to a dollar sign.
Posted on 05/11/2009 4:56:20 AM PDT by SonOfDarkSkies
Something bad and dangerous is happening in Barack Obama's America.
The powers that the Obama administration claimed in order to arrest the financial crisis and mitigate the recession are being used and abused in ways that are underming the legal and financial stability of the United States. Investors: You are warned.
The first warning was the attempt to snatch Chrysler's assets away from their rightful owners to pay off administration friends and supporters.
The Obama plan to save Chrysler would have sold Chrysler's most valuable assets into a new company co-owned by the U. S. and Canadian governments, Fiat and the United Auto Workers (UAW) -- with the UAW getting the biggest piece, 55%.
The trouble was: those assets belonged to somebody else. They belonged to the company's bondholders, who had a legal first claim. Under the administration's plan, those senior-secured creditors would have received just 29¢ on the dollar.
For a failing company to shuffle assets so as to favor some creditors over others with a stronger claim is a very serious wrong, potentially even a crime. There's a sound economic reason for this rule of law: Bondholders accept lower returns in good times in exchange for greater security in bad times. Protecting bondholders in bad times ensures that future borrowers will be able to borrow in good times.
(Excerpt) Read more at network.nationalpost.com ...
So Frum has awakened from his love induced stupor.
O is not the saviour after all?
In normal times, US courts would be the backstop to this Obama insanity.
But ironically, the US Courts are also under control of ObamaReich.... or about to be.
What a sorry state of affairs we are witnessing in WashDC.
DC? It’s the entire U.S.!
Obomba is killing anything that was left of goodness in America.
We have entered the saddest chapter in our history.
When this reign of terror and evil is over, perhaps a new one will begin until there isn’t a thing left to admire about the USA!
thugocracy
the term that is beginning to rise above a whisper
vichy-Oppenheimer fund managers caved to the Chicago mafia running this nation on Friday- so did the other bondholders, I believe
GM’s bankrupcty should be even bigger and juicier for the union
Oh, and future “reluctant” buyers of debt in these thug-owned companies? Well, just wait until the WH coercion against their business decisions ramps up next year. I;m sure the DNC donations and bond and stock purchases f obama-owned companies will proceed at a merry pace.
Shareholders need to vote with their checkbooks
The first warning was the attempt to snatch Chrysler's assets away from their rightful owners to pay off administration friends and supporters.The bailout was sold to Congress and the American people as a way to protect their investments.
Too bad the judge, up for re-confirmation, sided with Zero over contract law already. Unless bond holders appeal, and I REALLY hope they do, Zero has trashed hundreds of years of common law precedence.
It can either be quick (but it won't be a true fix) or it can be a fix (which usually takes time), but it can't be both quick and a true fix.
What this is doing is pushing the snowball down a longer hill. The result will be a delay in the snowball smashing at the bottom of the hill, but the snowball will be far bigger and more powerful, hitting bottom like a tsunami.
It's all part of the plan, folks. Pay off Obammie the Commie's supporters in dollars that still hold value, and, while doing so, destroying the future value of those dollars.
So far there is nothing in your record that suggests that you would lift a finger.
Liberty is liberty even when it does not come affixed to a dollar sign.
He couldn't have done it without a lot of help. The sleeper Communists buried in the US political structure for years are hatching and going into action.
BO is NOT trying to “FIX” anything!
He is using the circumstances to GAIN AS MUCH CONTROL ASAP!
Great post.
There is still plenty of goodnes left in America. And the myth of a United States of America is over. Class warfare, promoted by LIBs/SOCs/Comms, has split whatever union there was. A dictatorship has snuck in the back door and, once again, mankind has failed to learn the lessons of history.
I was born free in America, I REFUSE to accept Amerika.
The only thing worse than incompetence is arrogant incompetence.
I remember the video clip of Obama announcing how tax codes were being changed last week. He didn’t announce a reinterpretation of overseas income as now being considered taxable income. Instead, he labeled it a ‘tax loophole’, that was going to be closed so businesses would no longer be able to illegitimately receive overseas income without paying taxes on it.
I find it amazing that anybody who may have even had a first semester course in business law, or had ever itemized their deductions, would have the arrogant gaul to label this past activity as ‘illegitimate’.
I could understand a President taking a particular stance on policy, or deciding budgetary matters were better managed by taxing foreign income, but to label past tax code compliance as illegitimate with disdain, and then claiming the change is to close down a ‘loop hole’ is sheer arrogance.
Most ‘loop holes’ in the tax codes were created by socialists who wanted and demanded the laws of the land be expressed in a fashion where the tax codes modified social behavior, hence the creation of tax incentives, explicitly forming these so-called ‘loop-holes’.
If anybody should be castigated as not fulfilled the intent of national morality, it should be the socialists who first implemented these ‘loop-holes’ in their social experiments, not those who have obediently complied with the tax codes.
So as long as O doesn’t seize any of your personal property you’re okay with the state of Amerika?
Read the comments. The Obots immediately claim: “It’s Bush’s Fault!”
Nice to see Frum woke from his hypnosis.
*Too late to do any good though. I wonder if the spell is wearing off the others?
I think you are right, but I’m not so certain their is unity of command in what is being orchestrated from Obama.
I’m witnessing multiple fronts where ACORN like socialists from black inner city schools have been given credentials to occupy professional positions, but sincerely perceive all power is as ill gotten as they have received it. They in turn, have found mechanisms to pass regulations by edict, without rigorous representative review, and are furthering their empires throughout numerous power structures.
This isn’t a localized phenomenon.
IMHO, if one takes all the lower echelon middle managers given authority under the Clinton regimes, observed how they occupied professional power structures and corrupted their systems, then take a look at a second wave of corrupt inner city socialists, now being placed in positions to plan communities, we are beginning to see the direct ramifications of corruption in socialist politics at the local, county, state, and national levels.
They sincerely believe they are building their army.
Tragically, they are building on sand in the wash of socialism from the bedrock of free enterprise. By relocating all our resources into their ill conceived empires, not only are they leading us to failure, they are removing the resources available and required in the future to repair damages from their foolish novice enterprise.
Well...where's the outrage??????
Where are the court challenges??????
Where is the Attorney General??????
Where is the Republican Party Leadership??????
Crickets..........Dems can do no wrong even if it's blatantly unconstitutional.
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