Capitulate Or Die

Capitulate to Obama’s will, whims, and desires or be destroyed, that seems to be the modus operandi for America’s First Black President and his Chicago-style regime. Do as he says, irrespective of laws, contracts, or your own best interests and responsibilities, or be destroyed by the regime and/or its propaganda corps.

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.

— John Tapper
ABC News – Political Punch

The White House, in the person of White House deputy press secretary Bill Burton, denied the claim that President Obama’s Auto Industry Task Force threatened to use the Press Corps to destroy the reputation of Perella Weinberg Partners LP.

Right; they deny the charge, but does anyone with any sense or with love for America believe them? This is exactly the same strong-arm tactic of intimidation that they’ve used before.

Their denial falls flat in the face of the truth, as can be seen by President Obama’s own words on Thursday, April 30, 2009, when Obama revealed his plan for Chrysler.

While many stakeholders made sacrifices and worked constructively, I have to tell you some did not. In particular, a group of investment firms and hedge funds decided to hold out for the prospect of an unjustified taxpayer-funded bailout. They were hoping that everybody else would make sacrifices, and they would have to make none. Some demanded twice the return that other lenders were getting. I don’t stand with them.

— President Obama
Remarks By The President On The Auto Industry

Those stakeholders who “made sacrifices and worked constructively” are: JP Morgan Chase, Citigroup, Morgan Stanley, and Goldman Sachs. Together they are owed approximately 70% of Chrysler’s debt and had already agreed to participate with the administration’s plan, which comes as no surprise to anyone who’s been following politics and the US economy. All four financial institutions are recipients of up to $100 billion each in federal government bailout funds (TARP) and they’ve all seen what happened to AIG and its employees.

While Obama’s not a Muslim – it’s doubtful he accept any authority greater than himself – he follows a twisted variation of their principles. To him, there are only Dar al-Obama and Dar al-Harb.

According to Thomas Lauria, Global Practice Head of the Financial Restructuring and Insolvency Group at White & Case, the boutique investment bank Perella Weinberg Partners were willing to take 50 cents on the dollar from Chrysler for their debt – which, it should be noted, is similar to what they would receive under an interfered with bankruptcy proceeding.

That’s apparently not good enough for Obama and his cabal though; they demand absolute submission to their will and are more than willing to use any means at their disposal to punish and, if needs be, destroy their opposition and silence any dissent.

Obama and his Liberal coterie will probably get away with it too, which is an atrocity and a crime against America in and of itself. They’ve made good use of the Race Card and have – with the eager collusion of the MSM - done a masterful job of fomenting Class Warfare in America. This has and will continue to allow them to attack and destroy any financial institutions or other large corporations in America with near impunity.

This means that President Obama has an easy time painting firms like AIG , Perella Weinberg Partners, and others as greedy, divisive, and contrarian. After all, they’re just a bunch of “evil, old, rich, White men.” The dark heart of Obama’s constituency has long desired to see them destroyed and their wealth redistributed.

… And of course any dissent with his agenda will be decried as Racist.

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7 Responses to “Capitulate Or Die”

  1. zhann Says:

    You know, I get the impression that you aren’t too fond of our new Black President. Maybe I’m wrong, its happened in the past, but it seems like ‘not fond’ may be a weak representation for your feelings towards our president. I think you should be careful, you wouldn’t want to be labled a Right Wing Terrorist 😉

    Anyway, lets be honest, the media is the most biased engine in the world. The American media is doubly so. Depending on who you listen to, what is being said should always be taken with a grain of salt. While I don’t doubt that inferences were made to the tune of “Obey or face our wrath”, I find it hard to believe that such blunt statements were made as cited by ABC. The fact that you cite ABC and not Fox definitely lends credit to your argument, but lets be honest … this isn’t the first administration throwing its weight around. In fact, if it didn’t throw its weight around, it would be the first.

    While I have a little more respect for Obama than you do, if I remember correctly you were also for the fall of the auto industry. The fact that they are being manipulated to fall in a particular way shouldn’t be a surprise regardless of administration. Do you think that Republicans would simply sit idely by and not try to cushion their pockets in such a potentially lucrative fall?

  2. jonolan Says:

    Zhann,

    If one is to lend weight to the political crap that was the DHS Right-Wing Extremist Summary Report, I’m already labeled a Right Wing Terrorist. 😉

    I would find it hard to believe that such blunt threats were made as well if any source other than ABC had reported and if Obama hadn’t said what he did in his press conference.

    …And no, I’m far from fond of Obama as President – all the more so because his being Black has and is being used to shelter him from the consequences of his actions – which was why I referred to him in that way in this post.

    I’m a free market sort and did want the Big 3 to fail if they couldn’t compete. That doesn’t mean I want the government, irrespective of who’s in charge, to ignore the law and interfere with that bankruptcy.

  3. zhann Says:

    In this respect, I am a realist. The fact is, no matter who is running the government, the bankruptcy of Chrysler is going to make many people very rich. VERY RICH. I am not sure how knowledgeable you are about how major companies go bankrupt, but for those that aren’t … before Chrysler officially goes bankrupt it will begin liquidating assets by lining pockets. This means hiring ‘executives’ to assist in the bankruptcy for multi-million dollar salaries … multi-million dollar bonuses … they will purchase apartments for these ‘executives’ because more than likely they will be pulled from another city … and so on, and so forth. I have watched many companies go under, and have always been in awe of the executives in charge.

    After the billions poured in by the Fed, it is only logical for those in the Fed to want a piece of this pie. Obama, of course, is no different. I have said this many times before … NO ONE wants to become president for a $400/year salary. NO ONE wants to be a senator for a $200/year salary. The fact is, this is where they make their money … that and flat out bribes. I think they call those campaign contributions, or soft money, these days, but it is all the same.

    While you can say that this is Chicago Style politics, that isn’t in fact the case. Sure, Chicago has a reputation for being among the most corrupt, but all politicians are corrupt. It is impossible to be a politician otherwise. Someone may have started in politics thinking that they would change the system, but that is impossible … the system will change you long before you can change it.

    All I am saying is that you are being unfair by singling out Obama while giving the impression that he is the only one that would do such a thing, or that he is hiding behind his African roots. All politicians would do the same, and nobody hides. This is all out in the open for those that havent been blinded by the system yet. Unfortunately, the American people have been so brainwashed over the decades that they are completely ambivalent of the truth.

  4. in2thefray Says:

    Curious if others share my cynicism. The taxpayer has given at least 12 billion to save chrysler and they enter into a no lose (for Fiat) deal with Fiat. How come me and mine didn’t get the no lose clause ?

  5. jonolan Says:

    Zhann,

    Insofar as the bailout and the bankruptcy of Chrysler being manipulated by the government to further their own agenda as opposed to letting the market and the law do their respective jobs is concerned, I laud your realism and largely share it. Either Party would try to shape the outcome for their own benefit.

    I’m more concerned at this moment about the threats that are claimed to have been made against Perella Weinberg Partners by the Obama regime. That is what I meant by Chicago-style politics – the politics of threats, intimidation, and worse.

    in2thfray,

    I, at least, share your cynicism. Add the UAW to list of disproportionately benefiting groups though. The feds and the UAW are both getting better than normal returns under Obama’s plan. The ones being totally screwed are the bond holders and the stockholders – you know, the American capitalists. 😉

  6. Rosie Says:

    Did Gm deserve the bailout? You Ask me I would say NO.. why? When Honda and Toyota were out inventing new cars, GM was busy boasting about its pride and Showing off its hungry hungry Daughter the Hummer

  7. jonolan Says:

    Rosie,

    And the Hummer, along with the largest fleet of Medium-Heavy Duty Trucks, kept GM afloat longer than it would have survived without them. Those were what a lot people wanted them to produce…

    But that’s really immaterial. As far as I’m concerned no company “deserves” a bail-out or fails to “deserve” it.

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