Posted on 05/08/2009 10:55:35 AM PDT by library user
ping.
So can an Oppenheimer Fund investor now sue them for abandoning their rights? I sure would. A class action suit by the investors.
This will certainly be interesting.
“The lenders wouldn’t support the Obama plan to restructure Chrysler after they were offered $2.25 billion in exchange for $6.9 billion of the debt, or 33 cents on the dollar. “The government offer would pay the group $2 billion, or 29 cents on the dollar.
After the administration statement, Perella changed its stance to support the plan, and today Stairway said it was withdrawing from active participation in the automaker’s bankruptcy case moments after OppenheimerFunds’ announcement.”
They folded like a deck of wet cards. obama won
If the big guys won’t fight this clear violation of contractural and statutory law, what chance do folks like me, small businesses have?
Slow Rolling along.
it’s going to take “bigger guys” than the cowards and collaboraters who run vichy-Oppenheimer
appeasement works about as well in business as it does in any other kind of diplomacy - it doesn’t
Our financial sectors are infested with crooks and cowards.
Market’s up, dude! Party on
There’s just too damn much corruption in DC to expect a good outcome from this.
The indictments from this fiasco will probably be for political reasons.
I have decided that the best way of deflecting Alinsky's Rules back on Obama is through the courts. There is a certain poetic justice in using lawyers to bedevil lawyers. The Goldwater Institute is very good at this, and there are others. Let's make a commitment to bankroll as many junkyard dog lawyers as we can to gum up the works.
And their fiduciary duties to investors, most likely, and hopefully it will be ugly.
After Oppenheimer threw in the towel, the other holdouts also withdrew their objections, including Perella Weinberg and others represented by Tom Lauria. Lauria is the lawyer who said in a radio interview that “Auto Task Force” chairman Steve “Ismella” Rattner had threatened his clients with demonization by the White House press office.
Oppenheimer holds $100 million in Chrysler bonds, soon to be worth only $29 million.
See, you can summarize without infringing on copyrights...
I would certainly hope so. You can see who they are trying to please and it's not the investor.
Just as it is in the government! It seems no one has the guts to do the right thing any more.
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