Dear Leader Threatens Chrysler Investors With White House Press Corps
Goodbye Democracy– Hello Tinpot Dictatorship…
Team Obama is now warning businesses to agree to their anti-business plans or face total destruction by his pals in the White House Press Corps.
Mark Levin discussed this outrageous White House action during his show yesterday:
Island Turtle has the transcript from a recent interview with bankruptcy attorney Tom Lauria on local Detroit radio. Lauria claims White House officials had threatened to use the “the full force of the White House Press Corps to destroy” his client’s reputation if they did not acquiesce to highly unfavorable terms of the proposed Chrysler restructuring plan:
Lauria: Let me tell you it’s no fun standing on this side of the fence opposing the President of the United States. In fact, let me just say, people have asked me who I represent. That’s a moving target. I can tell you for sure that I represent one less investor today than I represented yesterday. One of my clients was directly threatened by the White House and in essence compelled to withdraw its opposition to the deal under the threat that the full force of the White House Press Corps would destroy its reputation if it continued to fight. That’s how hard it is to stand on this side of the fence.
Beckman: Was that Perella Weinberg?
Lauria: That was Perella Weinberg.
More… Power Line added this:
On Thursday, I wrote about the banana republic capitalism that we are experiencing under the Obama administration. In connection with the Chrysler bankruptcy, Obama, ignoring laws that assign priority to secured creditors, has tried to bully lenders into abandoning their legal rights in favor of the United Auto Workers Union. To my knowledge, there is no precedent for this sort of arrogant lawlessness in American history. (Germany, Italy and Argentina are familiar with it.)
Hat Tip Tom W.