Posts tagged ‘chrysler bankruptcy’

Obama May Get His Way After All

It looks like Obama's plan to yank money normally due the secured creditors and hand it to politically more palatable parties may yet win out:

And, as in the Lehman case, the best asset of the bankrupt company is about to be stolen from under the noses of creditors, as the Judge is willing to appease the even bigger powers that be, using the threat that all hell could break loose if the deal is not consummated in T minus 0 nanoseconds. Same old song and dance. Will the last person leaving please turn off the lights on due process.