The Barack Soprano mob action against Chrysler’s creditors continues. Via Protein Wisdom, Perella Weinberg wasn’t the only target of White House threats.  New Allegations Of White House Threats Over Chrysler

…Although the focus has so [far] been on allegations that the White House threatened Perella Weinberg, sources familiar with the matter say that other firms felt they were threatened as well. None of the sources would agree to speak except on the condition of anonymity, citing fear of political repercussions.

The sources, who represent creditors to Chrysler, say they were taken aback by the hardball tactics that the Obama administration employed to cajole them into acquiescing to plans to restructure Chrysler. One person described the administration as the most shocking “end justifies the means” group they have ever encountered.  Another characterized Obama was “the most dangerous smooth talker on the planet- and I knew Kissinger.” Both were voters for Obama in the last election.

One participant in negotiations said that the administration’s tactic was to present what one described as a  “madman theory of the presidency” in which the President is someone to be feared because he was willing to do anything to get his way. The person said this threat was taken very seriously by his firm.

Mad Barack Beyond The Capitol Dome.  No doubt those two Obama voters are now debilitated by their severe case of buyer’s remorse.  Maybe next time they won’t believe everything they hear from the legacy media.

From Ace of Spades, the creditors are requesting pitchfork protection:  Citing threats, some Chrysler lenders ask secrecy

…Represented by lawyer Gerard Uzzi of the firm White & Case, the group said its members may be subjected to threats and intimidation in part because of comments made by President Barack Obama, who chastised the opponents of an attempted deal to keep Chrysler out of bankruptcy.

“Never before has the president of the United States announced a chapter 11 filing in a national address,” the petition said.

“The president publicly chastised these secured creditors for having the temerity to enforce their constitutional rights in this court of law, branding them as ‘speculators,’ making clear that ‘I don’t stand with them.'”

The judge denied the request.

From Hot Air , comments from a very brave money manager:

I run an approximately twenty billion dollar money management firm that offers hedge funds as well as public mutual funds and unhedged traditional investments. My company is not involved in the Chrysler situation, but I am still aghast at the President’s comments (of course these are my own views not those of my company). Furthermore, for some reason I was not born with the common sense to keep it to myself, though my title should more accurately be called “Not Afraid Enough” as I am indeed fearful writing this… It’s really a bad idea to speak out. Angering the President is a mistake and, my views will annoy half my clients. I hope my clients will understand that I’m entitled to my voice and to speak it loudly, just as they are in this great country. I hope they will also like that I do not think I have the right to intentionally “sacrifice” their money without their permission.

…This is America. We have a free enterprise system that has worked spectacularly for us for two hundred plus years. When it fails it fixes itself. Most importantly, it is not an owned lackey of the oval office to be scolded for disobedience by the President.

It feels like we’re living through The Untouchables.  I can’t wait for the part where the mob boss goes to jail.

Advertisements