Obama administration spots a terrorist

Matthew Hoy
By Matthew Hoy on June 13, 2009

I noted before that the Obama administration had threatened to use its trained poodle -- the White House press corps -- as an attack dog against Chrysler investors who were balking at the pre-packaged bankruptcy.

This week we got some more details about that incident from Rep. Steven LaTourette (R-Ohio).

 

From the chart at the end of the clip:

Robert Manzo, Chrysler restructuring expert: “I hope you think it’s worth giving this one more shot.”

Matthew Feldman, attorney on the President’s Auto Task Force: “I’m now not talking to you. You went where you shouldn’t.”

Manzo: “Sorry. I didnt’ mean to say the wrong thing and I obviously did. I was trying to make sure that if we had to contribute to the solution you knew we had some room. Sorry I did not realize the mistake!!”

Feldman: “It’s over. The President doesn’t negotiate second rounds. We’ve given and lent billions of dollars so your team could manage this properly….And now you’re telling me to bend over to a terrorist like Lauria? That’s B.S.”

A lawyer (Lauria) representing bondholders -- including the Indiana State Teachers Retirement Fund -- is a "terrorist" because he opposes unsecured creditors (the UAW) getting ahead of bondholders in line for Chrysler's assets -- in violation of two centuries of bankruptcy law?

Well, at least the administration thinks terrorists still exist, even with the coming of "The One." However, someone should tell them that terrorists blow up buildings -- not pre-packaged bankruptcy deals.

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