"Change" We Hope They Didn't Believe In

The NY Times picks a safe, slow Saturday to put up a few flares about team Obama.

First, an amusing headline:

U.S. May Revive Guantánamo Military Courts

The US?  Who is in charge here?  The Times managed more specificity last January:

OBAMA WILL SHUT GUANTANAMO SITE AND C.I.A. PRISONS .

That darn U.S., undoing Obama's good work.  Oh, blame the headline writer - the text of the story makes clear that this is another Obama reversal.  Q&O has more.

Let's stay with Gitmo for a moment.  Obviously, closing it will provide a wonderful feel-good moment for the left.  Unfortunately, there has been no resolution to the pesky question of what to do with the detainees, not all of whom have been singing 'Kumbaya' with suitable commitment.  And now Obama may not be able to hustle up the money to close it!  The Times has this:

On Thursday, Mr. McConnell hammered the administration for requesting $80 million for closing Guantánamo as part of an $83.4 billion war spending bill without explaining what would happen to the terror suspects being held there.

“Rather than appear before the Senate to explain why these funds are necessary and what the administration plans to do with the terrorists housed at Guantánamo, Attorney General Holder chose to deliver a speech in Berlin yesterday in which he reiterated the administration’s intent to close it,” Mr. McConnell said.

“It is clear from these remarks that the administration is putting symbolism ahead of safety,” he said.

John McCain joined in:

“I think they made the announcement [to close Guantanamo] without understanding there’s a number of really difficult issues associated with it,” Mr. McCain said.

Some Democrats who otherwise staunchly support the administration are uneasy about moving the terror suspects to American soil. Their reluctance, coupled with Republican opposition, could force the White House to strip the money for closing Guantánamo from the larger war funding bill in order to win its quick approval.

I assume the U.S. Obama will get the money eventually.

Comments

[Mark O]

Not need to cross out "the U.S. The two are as one. It's a religion and this is just one of the mysteries.

[American Taxpayer steeped to the gills.]

Remember Major Garrett's three unasked questions at the recent presser. Are American taxpayers going to pay Europeans to take Guantaneros? Are American Taxpayers going to pay welfare to Guantaneros settled here? Are American taxpayers going to pay 'reparations' to Guantaneros. Also, don't forget that the vengeful and petty Obama didn't call on him because Fox didn't run his presser.

[Fresh Air]

Well, it was bound to happen eventually. Zero T-shirts are now for sale at JoM on the right sidebar. That's not the change I was hoping for!

[verner]

Why do I get the feeling that Obama is running the country just the way that Clinton did--opinion polls and focus groups

[Danube of Thought]

How many are now at Bagram? Of those, how many do, and how many do not, have the right of habeas corpus? How long will they be held? Who will determine their status? Who will review those determinations?

By what authority is Obama launching Predator strikes in Pakistan? Does John Stewart think Obama is a war criminal?

[daddy]

Simply idle speculation, but if the prisoners are brought stateside, where do you guys think they would end up? My guess would be Leavenworth, but could Sibelius squelch that?

I'm sure he'd love to stick them in Alaska. We are already so far out of sight and mind, that I think he could sell it to muddle America, stick it to Palin, and house them say at a brig on a military base near Fairbanks or at Adak. The Japanese interred folks on Attu when they took that island in WW2.

It's also interesting that the Czar's in I think the late 1700's used a small Alaskan Island as a horrible prison for about 20-30 years for some of their worst political prisoners, but I can't find any info on Google today about it...a very little known tidbit of Russian-Alaskan History. Any help from Google sleuths out there to pin that down would be appreciated. Its interesting history, and while googling for it, came upon this">http://www.russiatoday.com/Top_News/2007-03-29/Russia_accused_of_torturing_former_Guantanamo_prisoners_.html">this story from Russia Today telling how former Gitmo Prisoners released to the Russians were tortured when they got to Russia in 2004.

And since O is expanding Americorp's by 2/3rds, maybe he could turn the new recruits into Prison Guards.

Just FYI, currently we send our hardcore Alaskan prisoners to facilities in the lower 48, primarily Arizona, as we don't have the facilities here to hold them, so this really is simply idle speculation for Saturday afternoon while awaiting the Derby.

[Porchlight]

Who knew Obama would turn out to be so unprincipled?

Wonder how the left is reacting to this news. I dare not wade into the swamp, but perhaps some of the more intrepid commenters will report back.

[Jane]

I don't think you have to worry about Alaska Daddy. As soon as someone whined that he was so cold that he felt tortured, he'd send them off to Florida.

[pagar]

Who knew Obama would turn out to be so unprincipled?

Anyone who paid any attention to any thing he said, did, or his friends.

Here is just one example of his words:

President Lying Hypocrite

When you read the article and the link, you'll see that the words he said in Florida in May 2008 were just lies thrown out to convince voters to vote for him. Not a word of truth in the entire May 2008 address.

Notice how the focus has changed? Now it’s about America with her tail between her legs apologizing for her “mistakes.” Now it’s a “new beginning with Cuba.” Gone is all that hoary talk of tyranny and oppression in Cuba and in it’s place the “new” relationship where Obama looks the other way from Cuba’s half a century of tyranny.

LUN and there is a second link in the original link that is the must read.

[JM Hanes]

daddy:
If they picked an island off Alaska with a name that was impossibly hard to spell, and hard to shorten (the less vowels the better), we'd probably never hear about it again.

Fresh Air:
"Zero T-shirts are now for sale at JoM on the right sidebar."

It's worse than that. I just voted in the poll on the upper right sidebar which asks, "Should the government help save the newspaper industry?" I hope the results don't represent JOM readers alone, because 42.5% of them answered yes!

Verner:
"Why do I get the feeling that Obama is running the country just the way that Clinton did--opinion polls and focus groups"

The difference seems to be that Obama doesn't shift positions the way Clinton did, the polls just tell him where he needs to do some public waffling and who needs to do a temporary stint under the bus.

[Gmax]

1

[Gmax]

Why do I get the feeling that Obama is running the country just the way that Clinton did--opinion polls and focus groups"

Funny you should mention opinion polls! I direct your attention to todays Rasmussen poll, where Zero is for the first time in his young nascent Presidency at +1 on the strong approve/strongly disapprove continuum. He also clocks in at +9 for the third straight day, which is also a first, having gotten down to +9 only once and for only two consecutive days.

Jimmy fing Carter the II.

[Old Lurker]

"Who knew Obama would turn out to be so unprincipled?"

See that's the problem, Porch. I think he is very true to HIS principles, they are just foreign to traditional American values. Frankly he seems to be cutting through ours like a knife through hot butter. The posts on the other thread about which voices speak for us, and how few of them are actual political leaders was telling.

BTW, I could not really be called a native Ky either because, though I was born in Paris and lived on the farm with my mother and her parents...when Dad came back from the war we moved on. Farm's still there and we visit the kinfolk still. Darn. Wish Grandaddy had left it to me... :-)

Beer and not Juleps on this day? You have been in Tx too long girl.

[Old Lurker]

"Jimmy fing Carter the II."

Oh that that would be the worst of it, Gmax.

[sbw]

I think he is very true to HIS principles, they are just foreign to traditional American values

O is too shallow to have principles. He only has platitudes.

[hit and run]

OL:
Farm's still there and we visit the kinfolk still. Darn. Wish Grandaddy had left it to me... :-)

No kidding. That still probably made some awfully good moonshine.

[bear1909]

lil bHo is a poll sl*t.

Andrew McCarthey's letter will hopefully trigger more "reactions" to this dim bulb of a President who is living in a fantasy world.

The Chrysler bond holders are next on the list. lil bHo muscled in on that bankruptcy proceeding in violation of the law. How many of those bondholders getting raped by this gangster are democrats who voted for him?

This kind of travesty is going to make his Presidency impossible to manage because he has squandered any credibility he had when assuming the Office. Most of us knew he didnt have the stones to run the country. He is not used to HAVING to work so hard. Also, he clearly has no conception of how to mobilize the knowledge assets and intelligence of this country's citizenry to tackle the so-called "tough" challenges he faces. McCarthey's letter illustrates the PR-esident's lack of emotional and political maturity as a "leader"....lotsa "der" and not much lead.

Look at his candid photos that are around the web.... he is ground down. The pain lines around his mouth are etched so deep one could hide a quarters in them. He is in over his head. His staff knows it. His cabinet knows it. Congress knows it. The global intelligence knows it. He is a laughingstock. Bush used to piss people off. Barry is just a joke.

He campaigned like a rat in heat...and won...so he now has to manage THE MOST DIFFICULT JOB in the known universe. He is in over his head. And he really doesnt know which way to turn, so he turns to himself and gives pretty speeches. A real narcissistic sychopantic moron.

The Gitmo controversy is just the tip of the ice berg. McCarthey cleaned his royal clock with an eloquence i have yet to "hear" from the great speechmaker the MSM is crowing about. Holder and Soetoro look like complete fools over Gitmo and "torture" allegations. And the hard core crews over at CIA haven't even "fired" back yet. By the way, can Scooter Libby get out of jail now, please?

This is going to be some of the best political theater ever. Too bad thousands of us are going to die in the next Muslim Islamic Jihadi attack on our soil.

Think of this Mr. "PR-esident": al Qaeda only has to pull of a WTC scale attack every 10 years to bring this country to its knees. and THAT is going to happen on your watch. it didn't have to. you're pathetic and impotent.

[narciso]

Well you could put them in a camp at the the base of M.t Redoubt, but I think she would politely say 'bless your heart', doing, Arnold is such good pals put them in Pelican Bay, or reopen Alcatraz that makes Gitmo look like juvenile hall. Chain gang charlie could put them in the Everglades.

Now under what rules would these commissions
operate, since Boumedienne ignored ex parte Quirin and Eisentrager, this weasel (and I'm aware I'm insulting weasels, really ticks me off.

[eaglewingz08]

You couldn't house them in Alaska, that's under the jurisdiction of the SanFranLiberal Ninth Circuit. They'd be getting conjugal visits and free access to the internet in no time, and would be out in a couple of years on US soil cause we couldn't deport them to their horrid countries of origin.

[OldTimer]

Over at Gateway Pundit, Mark Levin has a video recording of bankruptcy attorney Tom Lauria on local Detroit radio. Lauria claims "White House officials had threatened to use the “the full force of the White House Press Corps to destroy” his client’s reputation if they did not acquiesce to highly unfavorable terms of the proposed Chrysler restructuring plan..."

The White House Press Corp need to be outed for the aiders an abettors they are.....they are as corrupt as Obama and believe themselves impervious to exposure.

[narciso]

Point taken except I'd ignore the 9th circuit, only Kozinski and one or two other judges make any sense there, they are reversed more often than not at the Supremes, they were also the ones who blocked drilling on the North Slope and
in Bering and Chukchi Sea, I remember $4.00 gas, too well, to forget a detail like that. Our 'beloved' Florida legislature also blocked a simila plan for offshore drilling, because people can ride the bus.

[centralcal]

OldTimer: Tapper asked about the Lauria claims (good for him).

The White House denies, saying there is no proof. Proof? Lauria's first person account is not proof, guess people are gonna have to start taping their conversations with this transparent administration.

[sbw]

Proof? BOA made a claim of bullying. Independently Lauria made a claim of bullying. Obama's public statements indicate bullying.

A smoking gun? No. But put enough circumstantial evidence together and the jury of public opinion will convict.

[Fresh Air]

Well, quite obviously the strategy from the beginning was to lie about everything and let the goddamn Mediacrats cover for him. So far, it's worked. But I agree with Bear above. He's a very mediocre mind with no experience running anything except his mouth. Phoning it in may have worked on the Harvard Law Review. It won't work in the Oval Office. Maybe he should just resign now before something awful happens. He can still be King of the Brown Peoples in retirement (which is his goal, IMO), though I doubt he'll displace Washington from the dollar bill.

[centralcal]

sbw: I want to correct what I wrote above. Proof is incorrect. The word used by Burton of the White House was evidence.

There is no evidence.

Sorry for my misquote. And, I agree with everything you said.

[Charlie (Colorado)]

Who knew Obama would turn out to be so unprincipled?

Anyone who was paying attention.

[Charlie (Colorado)]

Any pool on when O's net approval index goes negative?

[Captain Hate]

Absolutely ChaCo; the evidence was there for anybody with even the slightest ability to filter out the BS

[Ann]

General Quarters To Win

Because it is a great American Story

[Ignatz]

-O is too shallow to have principles. He only has platitudes.-

Have to disagree on that one, SBW.
He's chock full of radical, left wing 'principles'.
The platitudes are only there to assuage the boneheaded masses that he is not doing to them precisely what it is he's doing.

[Thomas Collins]

I'm not going to try to duplicate Ann's computer artistry. I'll just say that my prediction is Hold Me Back. If a long shot wins, it will be Advice.

Poor planning on my part has resulted in mint juleps not being available, so I am consoling myself with Shirazz (probably having nothing to do with Kentucky, but definitely making for a mellow pre-Derby karma).

[richard mcenroe]

WH leaks Obama SC pick

[richard mcenroe]

Obama T-shirts eeeeeevil conservatives can love

[PeterUK]

"Well, quite obviously the strategy from the beginning was to lie about everything and let the goddamn Mediacrats cover for him".

Not quite a strategy,more a way of life.The guy is a BS artist of the first water.His first instinct is to lie,his second instinct is to elaborate on it.

[PD]

"Who knew Obama would turn out to be so unprincipled?"

Pretty much all of us here, I'd say, with a caveat: "turn out to be" is not precisely the right phrase, because he didn't "turn out" to be anything different from what we knew he already was.

Also, by "pretty much all of us," I might exclude TCO, who is busy claiming that we are the ones lacking principles.

[sbw]

Ignatz, if they were principles, he could justify them as readily as Reagan could explain his foundations.

Obama has only platitudes. They are his excuse to stop thinking. Shallow, shallow man.

[Thomas Collins]

More exciting than Canonero II's upset win in the '71 Derby. I never thought i'd say that.

[Captain Hate]

I might exclude TCO, who is busy claiming that we are the ones lacking principles.

In fairness TCO is Adam Smith compared to BammerChavez.

[Extraneus]

Obama has principles, although they're pretty un-American.

He clearly spelled out his principles in a 2001 interview about the Supreme Court, the one where he spoke of redistributive justice and positive vs. negative rights. Also in his comments to Joe the Plumber.

And of course, there's always this, from the President of the United States:

"...a world where cruise ships throw out more food in a day than most residents of Port Au Prince see in a year. A world where white folk's greed runs a world in need."

The man sworn to defend and protect the Constitution has principles that the Constitution is a "flawed document."

It's difficult to explain to your kids that Obama doesn't think Washington or Jefferson were great men, as opposed to Jeremaiah Wright. But the man does have principles. Can't take that away from him.

[pagar]

Any pool on when O's net approval index goes negative?

I can't pick a date, but I will pick the event that I believe will trigger it. The day Obama releases known terrorists to freedom onto American soil after telling them where to pick up their welfare checks each week. I just do not believe the average American feels an obligation to bring these people to America, and provide them with more free money than they have ever had in their life, just because their homeland thinks they are terrorists.

[centralcal]

Okay, I have a LUN . . .

yeah, it is Atlas Shrugged who is posting an article from someone she refers to as Dr. Wheeler, but I read the thing and laughed and laughed and laughed . . .

I am sure it was written by our very own Soylent Red. Come on it's a lazy Saturday night, read it and tell me it wasn't written by our Soylent!!! I dare ya.

[PeterUK]

"Obama has principles, although they're pretty un-American."

More of a prejudice than a principle.

[matt]

I think the next step with the Chrysler bondholders should filing a suit against BHO and the Treasury for intentional interference in contractual relationships. There should also be an investigation of undue pressure put on the TARP banks to act unfavorably to their fiduciary responsibilities. I actually think they have the grounds, and boy would that

a - frost the living daylights out of His Wonderfulness

and

b - begin to reign in his extralegal tactics

For a lawyer he's pretty damned dumb to engage in such tactics. Then again, he must have been either too busy editing the law review or asleep in his contract law classes. Hopefully the bondholders have the wherewithal and the guts to take action.

[Charlie (Colorado)]

I can't pick a date, but I will pick the event that I believe will trigger it. The day Obama releases known terrorists to freedom onto American soil after telling them where to pick up their welfare checks each week

He's gonna have to hurry it up then, I think it could happen in the next week or so.

[Charlie (Colorado)]

I think the next step with the Chrysler bondholders should filing a suit against BHO and the Treasury for intentional interference in contractual relationships.

I'm looking for what the bankruptcy judge does. The difference between $6 bln and $2.6 bln will fund a lot of lawyering.

[Charlie (Colorado)]

Beldar is good on this.

[Old Lurker]

"I'm looking for what the bankruptcy judge does. The difference between $6 bln and $2.6 bln will fund a lot of lawyering."

Yep. I am happy some of them lawyered up and I wish they'd do as Matt suggests and go right at the looter in chief. Some things are easy for regular people to understand, and I think this is a perfect example if somebody will articulate it. When it gets out what sorts of average joes had money in funds invested in these bonds, this can become an important turning point...if the lawyers go nuclear on him.

I also LOVE the formation of a "Committee of Non-TARP Lenders" as an opening shot in the BK proceeding. I hope the judge allows the bondholders to be divided that way. Will make great theater, and will illustrate exactly the danger of letting the govt run the banks.

Has anybody heard any Republican elected official speak out about any of this?

[sbw]

Puk: More of a prejudice than a principle.

Bang on, Puk. O has beliefs. Tons of them. ill-conceived. Unworkable. Dangerous.

A principle is distilled from wide reading, experience, and hard work. They are those lessons that have stood the test of time and that project sensibly into the future.

Ig and Ext, I'm with Puk. O has convictions.

[Old Lurker]

Speaking of lawsuits I'd love to see. How neat would it be for some TARP bank shareholders whose bank caved to Obama on the Chrysler bonds to sue the bank board for damage to their shareholders' equity by not insisting on regaining the maximum amount available of that $6.9B. Somebody needs to apply counter pressure on the wimps so they will find the balls to do their jobs.

As pointed out above the lost billions will fund a lot of lawyers on this one little corner of this one little deal.

[bad]

O has convictions.

Then he belongs in jail.... no probation.

[Rick Ballard]

OL,

CalPERS is going after BAC on misrepresentations made by Merrill prior to it being purchased by BAC. A pension fund "reaching out and touching someone".

The Fascist in Chief's interference in the BK process would seem to leave any pension fund which does not fight for every nickle owed to be at the mercy of the pensioners - as a class.

I don't think the lying crapweasel in the WH has a clue whatsoever about actual law. I'd sure like to see advertising start for a class action by pensioners.

[Topsecretk9]

Straight from the Department of Hilarity:

This week's new-to-DVD movies are led by a newspaper yarn that might have given "State of Play" a run for its money if it had gone to theaters instead of straight to video.

"Nothing But the Truth" (Sony, 2009; R for language, sex, violence; $24.96). This piece of dramatic fiction is based loosely on the Valerie Plame scandal, when a CIA operative was outed by a newspaper story and a journalist went to jail for contempt because she wouldn't name a source.

[PeterUK]

"Nothing But the Truth" or "Does my bum look big in this?"

[Danube of Thought]

First, I highly recommend the LUN for a very straightforward primer on the issues presented in the Chrysler bankruptcy.

Second, I'd like to solicit opinions on what we appear to have here. If Mr. Lauria's allegations are true (and probably even if they aren't), we are looking at a creditor (Treasury) of certain secured creditors in the bankruptcy proceeding exerting pressure on those secureds for the benefit of certain unsecured creditors (the UAW) who are on public record as having made substantial political contributions to the president's campaign.

Does this pass the smell test, or am I just knee-jerking the way the MSM would do if it were a Republican in the White House?

As I recall it, a litigant before a bankruptcy court has available all the tools of discovery afforded by the Federal Rules of Civil Procedure. Thus I should think that counsel for the disagreeing secureds would subpoena Mr. Ratter to see what he has to say under oath about his contacts with those creditors.

Further, I would subpoena information about each and every contact, communication, conversation, and blah blah blah between the UAW and any representative of the White House or the Treasury Department.

Does this thing have the potential to get very interesting, or not?

[Extraneus]

I'm all for convictions, bad and DoT.

[pagar]

Then he belongs in jail.

Texas Darlin is still saying he is violating the Law.

A Fortune in Campaign Funds Illegally Used to Fight Eligibility Lawsuits? May 1, 2009 by texasdarlin

[Old Lurker]

Rick, CALpers has been a voice in the wilderness re corporate governance, so I'm not surprised they would step up. I wish more fiduciaries would do that.

[bad]

DoT, you are absolutely masterful at Tapper.

I see the new meme is "hedge funds made my Chrysler stock worthless."

Plenty will fall for it, guaranteed.

[Rick Ballard]

DoT,

I would think that a war of the pension funds could be pretty interesting. Why is the UAW, an unsecured creditor given, as you say, preference over employee pension funds in a secured position. Aside from political clout with the Liar in Chief, of course.

President Ogabe is stealing from pensioners in the same way that he stole from the schoolchildren of Chicago.

What a whore.

[Old Lurker]

DoT, was not the Treasury's investment unsecured (or at least secondary to the secured bonds), and if so you have one unsecured creditor teaming with another unsecured creditor to threaten the long-secured creditors to shift their rights to the others. And we will find that Treasury is using unrelated associations (TARP loans) to coerce some of the secured creditors to act against the interests of their own shareholders and beneficiaries. Yes, I think this could be very very interesting.

[Rick Ballard]

Cool - Zombie Wars!!

Broke banks tussle over the carcass of Chrysler as GM stumbles through its last month. Watch CalPERS institute lawsuits against BAC for caving to Ogabe in order to get a makeup exam on its failed stress test!

Watch Goldman Sachs wring the last dime in CDS profit on its GM holdings while presenting a "helpful" face to the public (as it screws its pension fund clients right into the ground).

Watch big Wall Street cowards swapping cheaply held principles for loose change scattered on the street by Ogabe thugs as the Oconomy swirls listlessly around the bowl - preparatory to that final fatal flush.

And you don't even have to buy a ticket!!

Although you are going to pay through the nose.

[Charlie (Colorado)]

The Corner is reporting that Jack Kemp died. No confirmation on any news feeds I've found.

[Gmax]

DoT

You have it right. Secured are getting the shaft for the direct benefit of the unsecured of whom one, the UAW is getting the best position of all ( assuming they have any ability to run a company which is not in evidence ). Can they use their political influence to keep creditors from pointing out to the BK judge how far from "adequate protection" the the unsecured are getting at the moment? If not, and the judge is not a Clinton appointee willing to rule without consideration of the law, I think the admin gets a big cup of slap in the face.

There is a new money exception in the law but I am unaware of any new money coming into the deal, that is not the government using tax dollars to advantage their contributors. A scandal should be brewing on this, watch and see how silent the "lambs" of the press will be.

[Extraneus]

Aw.

Obamas take a walk, holding hands in the evening

[JM Hanes]

DoT:

Chaco linked to Beldar earlier in the thread, and this may be where some of the smell is coming from:

What made Perella Weinberg ultimately give in, when others like Oppenheimer Funds refused? One word: Vulnerability (emphasis mine):

"Representatives for Perella Weinberg, which is advising the government on a wide range of banking issues, initially defended the firm’s decision to rebuff the government’s offer."

(Recall that I blogged on March 26 of this year about the odd fact that Obama's chief of staff, Rahm Emanuel, had earned somewhere between $16-$20 million in something between two and three years as an investment banker at Wasserstein Perella & Co. when the Clinton Administration went into exile in 2001, even though Emanuel had zero education, training, or experience as an investment banker or any sort of businessman. And yes — that's the same Perella; he'd moved on to Morgan Stanley by the time Emanuel was at Wasserstein Perella & Co., but it's such a small world, isn't it?)

It's worth reading the whole thing, but I wonder if Tapper et al. have connected this connection to the story.

I'll be really nervous about whether or not this story will really go anywhere till Lauria et al have formally submitted legal objections of some sort. ObamaCo really cannot afford to let this to play out in court, IMO, and I think they'll be upping the pressure absolutely anywhere they can - most of it behind the curtain.

[Danube of Thought]

"...you have one unsecured creditor teaming with another unsecured creditor..."

Is the Treasury an unsecured creditor of Chrysler corporation in the bankruptcy courts, and what is its creditor position with respect to the TARP recipients?

[Captain Hate]

Has anybody heard any Republican elected official speak out about any of this?

No, unfortunately they're in classes with Michael Steele learning how to say "uhhhhh" and "you know" so they can sound as inarticulate as he does. Wtf, it worked for BammerChavez.

I want the Republicans gone almost as much as I want the donks gone; in both cases you have a bunch of preening nincompoops who're too goddamn comfy with the trappings of power. Throw all those assholes out.

[TCO]

You little "crisis" bailout faggot Republicans have killed the free market. Now it is just accepted when Chrysler is bailed out. I guess it's a crisis when Bush does it but bad when 'bama does it. Hope you all die of swine flu. You fcukers don't deserve to be in Amreica.

[TCO]

I told you...you were opening the door for more socialism and you didn't listen to me. The base is totally dEMOARALIZED with you fucking RINOS. ROT IN HELL

[Captain Hate]

Don't dislocate your shoulder patting yourself on the back, TCO; go back to fellating Dan Snyder.

[bad]

Put down the booze and take your meds, TCO.

You are in my prayers.

[bad]

AP:

Wall Street is not going to play as dominant a role in the economy as regulations reduce "some of the massive leveraging and the massive risk-taking that had become so common," President Barack Obama says.

The changes in the role of Wall Street and the huge profits that came from that risk-taking could mean other adjustments as well, Obama said in an interview in this week's New York Times Magazine.

"That means that more talent, more resources will be going to other sectors of the economy," he said. "I actually think that's healthy. We don't want every single college grad with mathematical aptitude to become a derivatives trader. We want some of them to go into engineering, and we want some of them to be going into computer design."

He's gonna save us. Aren't we lucky..... LUN

[Danube of Thought]

Judge Gonzales is a Clinton appointee (1995), but by all accounts he is an excellent judge (LUN). He handled both the Enron and WorldCom bankruptcies. Looks like a no-nonsense guy.

[Charlie (Colorado)]

Oh my goodness, I do believe TCO just called me a homSEXual.

I'm SO crushed.

[Frau Jedöns]

From Extraneus: The Obamas' visit to Georgetown attracted thick crowds of onlookers who were held back by police tape, while sirens occasionally wailed and a protester chanted outside the restaurant.

It was just another en-chanted evening. Do we know the protester?

[sbw]

TCO? I haven't seen TCO around here in a long time.

[jimmyk]

The Corner is reporting that Jack Kemp died.

Yes, unfortunately it is being widely reported now. Very sad. The Republicans need more like him.

[bad]

Was the protester complaining about the high cost of shoes?

[bad]

Was the protester complaining about Michelle driving up the cost of shoes?

[JM Hanes]

sbw:

Funny how TCO shows up so quickly when someone mentions him; he probably spends his days searching on his screen name(s), in order to pick out his blog du jour -- after he arranges the magnetic words on his fridge, of course, to come up with the screed du jour too.

[PD]

Wasn't Chrysler a recipient of bailout funds - funds that merely kept it going long enough for Obama to arrange for its transfer to the UAW? Do I understand that right? We're having a taxpayer funded union takeover of one of the automakers?

[RichatUF]

DoT-

I found the term sheet for the original TARP payment for Chrysler here.

The UST position is: The Requisite majority of the holders of the Chrylser LLC first lien indebtness and second lien indebtness (under the Chrysler LLC First Lien Credit Agreement and Second Lien Agreement) shall have consented in writing to the pledge to the Lender of the MOPAR Parts Inventory and the real estate collateral not mortgaged to such holders.

I haven't found the Lien Agreements, however, if those agreements are with the large TARP receipent banks, I would think that that would be an issue. Also there is language in the agreement stating that the "Lender shall have the exclusive right, exercisable at its option to convert this Facility into a debtor-in-possession facility in form and substance
acceptable to Lender." I'm not sure what to make of that since the money the Treasury loaned Chrysler has been mostly spent.

I'm curious about the Fiat deal and how it could have been inked without Fiat putting any on the table. I was looking at the board and didn't notice anything, but have been unable to find any sort of list of major shareholders and insiders.

[glasater]

Rich~
This prolly doesn't help a whole lot but from April 16 of this year CNBC was reporting:
Chrysler-Fiat Talks Intensify, Saturn Deal Eyed

[Jane]

Good Morning JOM!

Gawd I wish we had a media that did its job!

[AL]

According to frigging Yahoo finance, Ford has 154B in debt, GE – whopping 523B, Caterpillar 35B, Amex 69B, Toyota 120B, and so on.

As I am aware of, most of such debt is in “secured” corporate bonds.

Good luck to all these companies to refinance maturing corporate bonds into newly issued corporate paper after current administration has ruined investor’s trust in their security with classically fascist treatment of Chrysler bondholders.

If any one of mentioned blue chips will have troubles to refinance, possible breach of covenants will trigger credit rating downgrade spiral, and surge of triggered CDFs will hit some of major banks.

Folks, divest in Canada and Brazil. Or into Swiss franks. Seriously (almost).

[Captain Hate]

We don't want every single college grad with mathematical aptitude to become a derivatives trader.

The ignorance of that statement is breathtaking; not to mention similar to the garbage that Stalin and other dictators of command economies would say. The Community Organizer in Chief comes up with howlers like this and nobody calls him on it. All you dipshit trolls who stink this place up: Witness the abject stupidity of Ann Dunham's mistake and go sulk off.

[Extraneus]

Mark Steyn isn't too hopeful about the future.

[SWarren]

Emanuel the Thug.

The threat Lauria spoke of - that the full force of the WH Press Corps would be unleashed to destroy Perella’s reputation. Rahm worked for Perella and must have something stinky on them to cave so readily.

[Rick Ballard]

SWarren,

The fact that Emanuel worked for them indicates the presence of an unbearable stench. That's going to be a big problem going forward for all the Wall Street cowards. The "Masters of the Universe" mindset, tied to their rapacity and lack of foresight, makes them very unworthy of sympathy among the unwashed (and the very well washed too). Who gives a damn what happens to a Wall Street lawyer or investment banker?

If the fascist takeover isn't presented as Union Thugs stealing from pensioners, the political impact will be minimized. The Muddle is as clueless about property rights as they are about practically anything else. Aside from their "feelings of the moment", of course.

[pagar]

Gawd I wish we had a media that did its job!

Texas Darlin has this story up today.

National Sovereignty and the Obama Administration, Part I

© 2009 drkate/drkate4justice

“The media is the most efficient weapon of tyranny and oppression ever created. No need to physically control populations anymore when you can do it mentally - program it in, internalize the rules.”–Mindwars

In Obama's mind I suspect the National Media is doing exactly what he wants, with the very small exception of Fox and a very few others. When one can threaten to bring the full power of the White House Press corp against opponents and they cave because of that threat, I'd say he pretty well feels he owns the WH press Corp.

[PeterUK]

From the link.

"That's the stage the Europeans are at: Their electorates are hooked on unsustainable levels of "services," but no longer can conceive of life without them."

Steyn is wrong on this,we are paying for services,we are not getting them.What the reality is that a vast public sector feudal protection racket has been set up.This is for the benefit of government and public sector workers.Services are funded by compulsory confiscatory taxes,whether one needs or uses the service.
There is no difference between government and robber barons or the mafia.

[PD]

The threat Lauria spoke of - that the full force of the WH Press Corps would be unleashed to destroy Perella’s reputation.

That's an intriguing threat. I wonder if any member of said corps will have the self respect to stand up and say, "Wait a minute. The White House doesn't own me and control wholesale what I say."

Because if they *don't* say it, their silence is acquiescence to the charge that exactly that is true. If they don't say it, they better not do any braying about their "independence" and "non-partisanship" henceforth.

(Even if they do say it, I'm not sure that I would believe it. But it'd be incredible for them not to even protest.)

[Captain Hate]

Are you kidding PD; those drones have achieved their status by being part of a hive-like pattern of dogmatic behavior that left "independent thinking" in the dust long ago. They're no more capable of "independence" or "non-partisanship" as they are of sprouting wings. They've kissed a lot of ass and trampled over principled people to be sucking hind tit at the White House and they're not going to do anything to jeopardize that.

[Rick Ballard]

"I wonder if any member of said corps will have the self respect to stand up"

Annelids have problems standing (vide Wall Street, Masters of the Universe). I wouldn't count on even a wriggle of protest.

[SWarren]

Rick,
If the fascist takeover isn't presented as Union Thugs stealing from pensioners, the political impact will be minimized. The Muddle is as clueless about property rights as they are about practically anything else. Aside from their "feelings of the moment", of course.

As usual, you nailed it. I agree completely.
And the Thug-in-Chief is counting on that cluelessness.

[PD]

There is no difference between government and robber barons or the mafia.

I'm not generally inclined to that view, but I must say that this administration has done more than any other I remember to transform our government into something that this nation's citizens have reason to fear ... and despise.

[PD]

And that's a sad thing.

[Captain Hate]

Am I offbase in thinking that this Chrysler bankruptcy case is one which absolutely has to be won by the bondholders if we have any hope of economic freedom under Borat Obamski? That if BammerChavez wins this that we'll have a bunch of American-made Trabants that are completely worthless (but Green) being paid for by all taxpayers to support UAW pensioners cush benefits? And that caravans of ACORN types are being dispatched now to pressure the bankruptcy judge into not "caving in to the Wall Street special interests"?

[SWarren]

PD,
I wonder if any member of said corps will have the self respect to stand up and say, "Wait a minute. The White House doesn't own me and control wholesale what I say."
LOL.
IMO Tapper is the only one who shows some spine. Sure hope he is clean as a whistle. The Thugs are surely looking to take him out.

[Old Lurker]

Rich: "...shall have consented in writing to the pledge to the Lender of the MOPAR Parts Inventory and the real estate collateral not mortgaged to such holders."

DoT, the key phrase "...not mortgaged to such holders..." implies the secured bond holders did not subordinate their rights to collateral they already had pursuant to their bond indentures to the Treasury, therefore Obama's threat amounts to attempting to accomplish that after the fact.

As many have said here, any fiduciary that caves on this is/should be very liable to their own shareholders and beneficiaries for not recovering the assets pledged.