‘Threatened by the White House’
- From: jose el fontanero <josefsoplar@xxxxxxxxx>
- Date: Tue, 5 May 2009 08:41:18 -0700 (PDT)
‘Threatened by the White House’
[Henry Payne]
Tony Soprano, meet Barack Obama.
The Obama administration’s War on Capital — as National Review’s
editors have aptly named it — claimed its first victim last week, as
the lawyer for the investment firm Perella Weinberg Partners says it
was threatened by the White House into accepting a deal for a measly
29 cents on their investment dollar.
“One of my clients was directly threatened by the White House and in
essence compelled to withdraw its opposition to the deal under threat
that the full force of the White House press corps would destroy its
reputation if it continued to fight,” lawyer Tom Lauria told Detroit
radio host Frank Beckmann Friday. Lauria later said the brass knuckles
belonged to White House Auto Task Force leader Steve Rattner.
In short, take da deal or we break yer legs.
Lauria’s account t raises more than a few troubling questions. The
White House naturally denied the threat, but the extraordinary
intervention of the President of the United States in bankruptcy
negotiations is intimidation enough. Obama unloaded on these creditors
last week, accusing them of being “speculators” out to destroy an
American industrial icon. Those bullying words come from a man who has
the power of the IRS and the SEC at his disposal, not to mention the
bully pulpit.
We’d hate to see anybody break anything in your office.
But Lauria’s account should also shame the Washington press corps
which by Lauria’s account is nothing but a trained Democratic
Rottweiler (“the full force of the White House press corps”) that the
administration can set loose on its enemies any time it feels the
urge.
The Chrysler episode is a disturbing sign of how far this president is
willing the bend the law — and the truth — to satiate the demands of a
major Democratic special interest, the UAW, which makes out like a
bandit in the Chrysler deal, winning 55 percent of the company (the
expected investment return, apparently, of committing $25 million to
Democratic candidates over the last 20 years).
When asked by Beckmann to counter Obama’s claim that the bondholders
refused to make “sacrifices and worked constructively,” Lauria
responded that “contrary to what the president said in his news
conference,” the bondholders agreed to take a haircut of 50 cents of
their investment dollar.
In other words, the president lied.
.
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