Obama: Just Another Thug From Chicago
Thursday, May 7th, 2009Looks like all of that experience being a “community organizer” is finally being put to use:
A leading bankruptcy attorney representing hedge funds and money managers told ABC News Saturday that Steve Rattner, the leader of the Obama administration’s Auto Industry Task Force, threatened one of the firms, an investment bank, that if it continued to oppose the administration’s Chrysler bankruptcy plan, the White House would use the White House press corps to destroy its reputation.
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Thomas Lauria, Global Practice Head of the Financial Restructuring and Insolvency Group at White & Case, told ABC News that Rattner suggested to an official of the boutique investment bank Perella Weinberg Partners that officials of the Obama White House would embarrass the firm for opposing the Obama administration plan, which President Obama announced Thursday, and which requires creditors to accept roughly 29 cents on the dollar for an estimated $6.8 billion owed by Chrysler.
Lauria first told the story, without naming Rattner, to Frank Beckmann on Detroit’s WJR-AM radio.
Perella Weinberg Partners, Lauria said, “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.”
If you read this article, you’ll notice it carries denials from the White House and Parella Weinburg Partners. However, Lauria’s allegations have now been corraborated:
Although the focus has so 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.
After all of the campaign promises of a new way of working in Washington and “Change” from this guy, it turns out that none of his promises were made with sincerity. Instead, he conducts his administration like an old-time Chicago gangster, using threats and intimidation to force American businesses to conform to his “plan.” Just imagine what he’ll do to ordinary citizens if they decide not to participate in his socialization of the health care industry.
In less than four months, the Obama Administration has completely trashed the principles and values that the US Government was founded on, and instead is slowly replacing them with policies and “values” which will destroy the very freedoms which were the basis for the founding of this country over 200 years ago. He is spending taxpayer money which won’t even be collected for another generation or two, tripling the national debt, taking over businesses on behalf of the government which used to be a part of a free market economy, all the while going around the world denigrating the United States to any foreigner who will listen.
Just exactly how are these actions upholding, protecting, or defending the Constitution of the United States? Hint: They aren’t
This has to be the ultimate example of The Peter Principle.
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