Obama Administration Threatens Chrysler Debt Holders

WedNEWSday - May 6th, 2009

Barack Obama and his administration threatened to destroy the reputations of the Chrysler debt holding financial firms who opposed the administration’s plans for restructuring the automaker.  Bankruptcy attorney Tom Lauria revealed that his client, Perella Weinberg, was “directly threatened” by the Obama administration.

“One of my clients was directly threatened by the White House and in essence compelled to withdraw its opposition to the deal under threat that the full force of the White House press corps would destroy its reputation if it continued to fight…That was Perella Weinberg,” Tom Lauria, the head of the bankruptcy department for top New York City law firm White & Case, told a WJR 760 radio host.

PerellaWeinberg was one of the three firms who initially offered resistance to the Obama administration’s restructuring plans, the other two being Stairway Capital and Oppenheimer Funds.  As senior creditors, it was their legal right to be paid in full ahead of any junior creditors.  They had made a counter offer, but the administration flatly rejected with Obama himself saying their holdout showed an unwillingness to sacrifice for the common good.  Finally, after “intense political pressure,” Perella Weinberg caved to the administration’s unconscionable, unconstitutional demands.

The suggestion that the administration would direct the White House press corps, composed of newspaper reports and other journalists who cover the White House, to ruin the reputation of holdouts is sure to raise the ire of people who prize media independence. It’s not clear whether this was an idle threat or whether the White House believes it exercises this level of control over the journalists assigned to cover it.  It harkens back to the dirty tricks tactics of past administrations, and suggest a cavalier attitude toward the exercise of political power to control the actions of private citizens.

Once again, RightReborn.com brings you the facts and the truth.  You most likely won’t be getting this information from the mainstream media.  RightReborn.com is bringing back America.

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This from The Business Insider - May 3rd, 2009

http://www.businessinsider.com/white-house-directly-threatened-perella-weinberg-over-chrysler-2009-5

This from Instapundit.com - May 4th, 2009

http://pajamasmedia.com/instapundit/77973/

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