Comments on: Chrysler Bankruptcy to Be Announced by Obama Tomorrow

By: akuperma

akuperma — Thu, 30 Apr 2009 16:31:06 +0000

#1 – The administration is trying to broker a deal that keeps Chrysler in business, and keeps its unionized workers happy (payback for backing the right horse in the recent election). They also don’t want to get stuck with the bill for the pensions which are insured by the federal government, and recover some of the money the Treasury loaned Chrsyler. The problem with the agreement is that the secured lenders are entitled to get paid in full before the UAW, since the union is an unsecured creditor.

By: moti107

moti107 — Thu, 30 Apr 2009 14:48:38 +0000

will the gouverment get back our Tax dollar bail out money they got?
and #1 i think thats the answer to your quetion.

By: akuperma

akuperma — Wed, 29 Apr 2009 21:57:57 +0000

The plan is contingent on the secured creditors giving up their claims on the company’s assets. While some of the creditors are banks who have been “bailed out”, the independent ones are unlikely to give away assets. The UAW is “in cahoots” with the administration, and the “bailed out” banks have in effected been paid under the table, but under American law, the other secured creditors have a right to 100% of the assets of the company before the UAW, or the Federal government, or the existing owners, get a dime.

By: arizona

arizona — Wed, 29 Apr 2009 21:46:59 +0000

Who made Obama the spokesman for Chrysler? Where did this megalomaniacal madman come from?