Lauria allegations of threats corroborated

posted at 1:37 pm on May 5, 2009 by Ed Morrissey

Business Insider reports that more than one Chrysler senior creditor has corroborated Thomas Lauria’s allegation that the Obama administration threatened them with public attacks if they didn’t surrender their contractual rights.  One of their sources says that the Obama team comprises some of the worst “ends justify the means” people he’s ever encountered (via HA reader Geoff A):

Creditors to Chrysler describe negotiations with the company and the Obama administration as “a farce,” saying the administration was bent on forcing their hands using hardball tactics and threats.

Conversations with administration officials left them expecting that they would be politically targeted, two participants in the negotiations said. …

The sources, who represent creditors to Chrysler, say were taken aback by the hardball tactics that the Obama administration employed to cajole them into acquiescing to plans to restructure Chrysler. One person said 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.

Well, that’s certainly reassuring.  The man at the helm during one of the biggest economic crises in decades is a madman who will act in an unpredictable and irrational manner if he doesn’t get his way.  It sounds like they paint Obama as either a lunatic or a petulant child.

As Glenn Reynolds says, the country is in the very best of hands.

The story now has more than one source, and mounting testimony — albeit understandably anonymous testimony, at least at this point — that the White House tried threatening senior creditors instead of doing their job in enforcing the law.  Not only do they not realize that their responsibilities do not include building business plans for private enterprises, but also don’t include assuming the role of Michael Corleone and acting like organized-crime thugs.  Actually, the way the White House made Obama sound, maybe Sonny Corleone is a better analogy … or perhaps Fredo.


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Is there any doubt that Obama thinks he is the ring leader of the greatest gang in American History?

Cybergeezer on May 5, 2009 at 9:48 PM

The sources, who represent creditors to Chrysler, say were taken aback by the hardball tactics that the Obama administration employed to cajole them into acquiescing to plans to restructure Chrysler. One person said 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.

WTF did you expect? At the very least, I hope these two people have learned never to vote for a Democrat again… let alone a Chicago Democrat.

Chaz706 on May 5, 2009 at 10:43 PM

It sounds like they paint Obama as either a lunatic or a petulant child.

Can’t it be both?

AZfederalist on May 5, 2009 at 11:05 PM

I have worked in corporate finance for 22 years. The Chrysler situation is the most amazing thing I have ever seen. It is like trying to recut a deal with Putin or Chavez where the only law is whatever works for his majesty and his majesty’s patrons.

Between that and the (thankfully) failed mortgage cramdown legislation, this group of hack lefties is going to do more to destroy capital flows than our worst enemies. I ask all you to sincerely pray that these abuses get overturned by a brave judge or union-backed employers will not be able to access secured debt capital in the future except at punitive rates.

What about Chrysler in the future? Do you think they won’t need to access the capital markets at some point in the future? This is insanity.

And it is just a minor league warm-up for the big show: the GM bankruptcy.

johnboy on May 5, 2009 at 11:09 PM

“When Policemen break the law, then there is no law. Just a fight for Survival.”

-Billy Jack-

So what is it when its the President?

When policemen break the law, the law is still the law and consequences will happen if they get caught.
When the president breaks the law; well he answered that one himself, “I won!, I am the president!” which about says it all as far as he is concerned. He can do what he wants and no one can tell him otherwise, not even the Constitution. Should we be surprised? He is a community organizer for which laws are just inconviences that have to be cirucmvented to get what they want.

Franklyn on May 5, 2009 at 11:27 PM

And it is just a minor league warm-up for the big show: the GM bankruptcy.

johnboy on May 5, 2009 at 11:09 PM

Yep, Barry is just testing the waters. Yet, he has all his backbenchers out cheerleading the economy. There won’t be a recovery under Obama. He wants to destroy the economy and blame the depression on the republicans. Thats what they did with the Fannie Mae meltdown.

izoneguy on May 5, 2009 at 11:31 PM

Fox News: “Chrysler Can Begin Selling Assets to Fiat”

According to this report the judge said Chrysler has presented a good and orderly plan. This means it is all over for the dissident group?

Birdseye on May 6, 2009 at 12:44 AM

Okay…there needs to be an Amendment to the Constitution more clearly defining the qualifications for President.

Everyone running for President, before being allow to be placed on a ballot, must psss a test on basic finance, basic economics. Must describe, in his own words, what each Bill of Right means, and must be able to explaing, at least at a School House Rocks level, the concept of separation of powers and limited government. He must also pass a test on US history, and World history since 1900.

I say this because Barry has shown he could pass none of those. It both amazing and embarrassing that this country elected a man with less experience than a dog catcher.

Fed45 on May 6, 2009 at 12:44 AM

I hope some of our liberal friends are at least reading this. I don’t speak on behalf of anyone here but I encourage my liberal friends to see this for what it is. I can’t imagine what a living nightmare it would be to have voted for Obama believing he was one thing only to realize he was all the worst things that had been attributed to Republicans. I know that seeing reality shake out with Mr. Obama has been frustrating and more than a little embarassing. Let me tell you this – I for one welcome you to the rugged individualism that is conservatism. Help us bring this administration down so we can return to the times when tyrant was used as hyperbole rather than for the sake of being accurate.

Mormon Doc on May 6, 2009 at 1:08 AM

GM files plans to wipeout shareholders?

GM stock is now trading at $1.85 Needs to be approved by Treasury (Turbo Tim). Will this cause an overall semi-stampede out of other stocks?

MB4 on May 6, 2009 at 1:36 AM

He can do what he wants and no one can tell him otherwise, not even the Constitution. Should we be surprised? He is a community organizer sufferer of malignant Narcissism Personality Disorder (NPD) for which laws are just inconviences that have to be cirucmvented to get what they want.

Franklyn on May 5, 2009 at 11:27 PM

There, FIFY. Community organizing is not our big worry IMHO. It’s his tendency to turn his reign into a cult of personality, and his acolytes into brownshirts.

Everyone running for President, before being allow to be placed on a ballot, must pass a …

psychiatric evaluation that rules out malignant NPD, as well as other tests.

I say this because Barry has shown he could pass none of those. It both amazing and embarrassing that this country elected a man with less experience than a dog catcher.

Fed45 on May 6, 2009 at 12:44 AM

And more clues to his emerging psychiatric disorders than Hitler before the Reichstag fire.

It’s a good bet that all relevant foreign intelligence services are already well aware of his psychological condition; what they choose to do with that information is anyone’s guess.

RD on May 6, 2009 at 1:58 AM

HUBRIS leads to NEMESIS even now.

Dhuka on May 6, 2009 at 5:15 AM

those of us who have tagged Obomber as a socialist were quick to distinguish between the western european brand of socialism and the latin american thug variety. But its becoming pretty clear that Chairman Obomber isn’t just a France-y dilettante. He has some Chavez in him.

What I want to know about the Chrysler threats is: what did Obomber know, and when did he know it? This is the stuff of impeachment.

james23 on May 6, 2009 at 7:35 AM

Wow look at the trackbacks! I wonder if he is like this with TERRORISTS…Hmmm I take that back. If only Mayans were here, they’d be hollering the 2012 end even louder.

In the meantime, the MSM lashes and bashes Republicans/Conservatives on how the party is in disarray. Now who is the smoother talker?

I am almost certain (because Puerto Rico suffers from the same MSM attacks towards one party) that tons of money are given “under the table” to say what they say on TV, press and (perhaps) lib talk radio. Perhaps AIG is a toddler – on the money/bonuses matter – compared to what is happening right now with the MSM.

And I am not that much of a conspiracy theorist!

ProudPalinFan on May 6, 2009 at 7:43 AM

The irony? All these guys voted for Obama – - ‘the most dangerous smooth talker on the planet.’ They probably donated a ton of $ too. I can’t believe that people who are so poor at reading others get so far in business. It is astounding!

kens on May 6, 2009 at 9:04 AM

Good to see Kudlow explode about this story last night and promise not to let it disappear!

joedoe on May 6, 2009 at 10:31 AM

Obama Is The Chicago Way.

The US Constitution and Bill of Rights are his target, but FIRST the demise of Contractual Law will create the quicksand effect swallowing all else.

We must support Lauria’s efforts to sustain the foundation.

maverick muse on May 6, 2009 at 10:44 AM

sooner or later….things are going to come crashing down.
This sort of thing can’t be kept going for too long.
Hopefully the country wont be too damaged afterward.

Handel on May 6, 2009 at 12:59 PM

My GOD, did “Kingpin” get elected last November?

44Magnum on May 6, 2009 at 1:10 PM

I am trying to evaluate if this can be stopped, or if it is already too late. Does no-one not see the similarity between Obama/Chrysler & Putin/Lukoil?

The tide of tyranny has washed upon our shores while the population observes with apathy. Does no-one in government care that this administration is shredding the constitution they took an oath to protect?

Why is no-one screaming from the rafters of the Capital Dome in protest?

“Who is John Galt?”

Archimedes on May 6, 2009 at 3:35 PM

My GOD, did “Kingpin” get elected last November?

44Magnum on May 6, 2009 at 1:10 PM

.
+1
.
Every day, I wake up read the news, and start looking for the rabbit hole.

JeffVader on May 6, 2009 at 5:59 PM

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