An attorney who is a member of President Obama’s auto task force labeled dissident Chrysler bondholders “terrorists”. These are the same bondholders that refused to yield to the thuggish tactics of an Obama administration that brought about one of the most radical restructurings and takings in American business history.
Thomas Lauria, the attorney who represents dissident lenders in Chrysler LLC’s bankruptcy case, was called “a terrorist” by a member of the Treasury Department’s automotive taskforce in an e-mail exchange with a Chrysler adviser.
Matthew Feldman, a taskforce member and Wilkie, Farr & Gallagher LLP bankruptcy partner, made the remark about Lauria, a White & Case LLP partner, in a e-mail to Robert Manzo, a restructuring expert who suggested he could try again to arrange a deal with the holdout lenders the day before Chrysler filed for Chapter 11 protection, the Washington Post reported.
“President doesn’t negotiate second rounds…We’ve protected your management and board. And now you’re telling me to bend over to a terrorist like Lauria? That’s BS,” Feldman wrote.
(emphasis mine)
It is no longer a mystery as to how this administration intends to take over substantial parts of the US economy.The use of brute intimidation, a tincture of lawlessness and leveling the competition are all well tested strategies that the President and his allies in Congress are ready to deploy in their desire to nationalize private industry. With most of the nation’s largest banks and the domestic auto industry under their thumb, this is the kind of language we can expect the Obama administration to employ in the battle over healthcare.
