How about your thoughts on the abuse of the section 363 bankruptcy process to screw over the secured creditors to favor other unsecured creditors including the labor unions? Beyond the "takings" involved and the fact that the D's are now shoveling $ to their supporters in a backdoor fashion, how about the fact that borrowers hereafter will pay more to banks since they will have to price this added risk into their loan pricing? That's got to get you going a little??
This is the real import of the Fiat transaction. Same thing is going to happen in the GM bankruptcy case too.
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Yes Woldy, that has me beyond "going."
ReplyDeleteI feel violated by the fact that it appears that the Rules of Law are not being followed by the Federal Government.
I feel like we are playing pool at their house and they are making up the rules after the shots are made (and counted).
That's not how I was taught to conduct business. The government is practicing bad behavior that hopefully won't be an impression or an example on how to practice business to others. That's why we have rules of law that we not only (know well) but the world knows we practice and honor.
Do I hear rumblings from the Chinese and Russians about the U.S. Debt they are holding and expected to keep purchasing? Are they worried that maybe we will change the law or rules on the U.S. Debt. holders like the Feds crammed down on the Chrysler secureds?
As our country recovers from its overspending and overconsumption (and I am confident that we will recover) it would be nice to know that we will all (including the Federal Government) practice good growth oriented business that follows the rules of law in the spirit in which they were created.
One more thing...How about the American car companies making a car that my Mom will buy instead of a Cambry or Accord? Is it that hard?
Bob S.
You are right on, Bobby S.
ReplyDeleteAnd, if you want to know about what kind of cars the American car companies are going to be making, you will need to consult with the Government officials in charge of those companies, because they will apparently be making the decisions on which models (and maybe even which colors) to make.
At least Obama doesn't have his political commentators rubbed out like Putin does . . . however, if I die a mysterious death in the next few weeks . . . do an autopsy!