Saturday, May 02, 2009


Here is Jake Tapper's story on the Obama administration threatening Chrysler bond holders that don't accept the administration brokered deal with ruining retaliation. The administration's denial seems to ring rather hollow given the President's attack on those bond-holders and the fact that the bond-holders that did go along were all politically connected and big recipients of bailout money. It is not just bad for our budget to have the government having discretionary control over such a large stream of resources, it is bad for our freedom.  This is positively creepy:

"While many stakeholders made sacrifices and worked constructively, I have to tell you some did not," the president said. "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."

It is like the great leader designating someone as enemies of the people or something.  You are for us or you are against us kind of language--not appropriate for use with foreign states that support and harbor terrorists but fine to use against the feduciaries of pension funds who want thier contracts honored even if it goes against the interests of politically connected unions. 

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