The same Obama enforcer that sat across Rick Wagoner, former CEO of General Motors, at a Treasury Department meeting and fired him, thereby muscling the power and authority of the Executive Branch into the realm of private business, . . . http://online.wsj.com/article/SB123897513268491077.html
. . . the same Obama enforcer that attempted to strong-arm private, first-lien lenders into surrendering their constitutional right to property by forcing them to accept 29% of their actual 100% due out of Chrysler bankruptcy instead of the 50% that these lenders had willingly come down to as a compromise, . . .
. . . that same Obama enforcer, Steven Rattner, Obama’s Lead Advisor of his Cabinet-level Auto Industry Task Force, is under investigation by the New York Attorney General and the Securities and Exchange Commission for his alleged role in arranging for kickback payments to “politically connected” middlemen for securing investments in Quadrangle Group which Rattner co-founded and for which he was an Executive officer sometime prior to becoming an Obama capo. http://www.politico.com/news/stories/0409/21348.html
Of further interest is that Rattner had disclosed the pending investigation to Obama during the presidential transition. Comparisons are being made now to the low standards honored when Obama backed the then-President of the Federal Reserve, Timothy Geithner, to become Treasury Secretary, even though Geithner had knowingly not paid $35,000 in self-employment taxes for several years. http://finance.senate.gov/press/Bpress/2009press/prb011309d.pdf
It would appear that the Obama Administration Family is going about business as usual.
And business as usual seems to strike the tone that a little compromising of the constitutional Rule Of Law makes the world go ’round.
On the Chrysler bankruptcy, Tom Lauria, an attorney at White & Case (NY & Miami) representing a group of first-lien lenders, muzzled himself in a recent interview after his May 1st accusation, directed at the Obama Administration, of heavy-handed threats allegedly made by Rattner to drag one of his lending clients through the Press-Corp-mud if they didn’t make with the program. Lauria did manage to say, at the very end of this interview, one very interesting note: “I’m sure if people keep pressing, the truth will come out.” . . .
Lauria had asserted on May 1st that Perella Weinberg Partners “was directly threatened by the White House and in essence [was] compelled to withdraw its opposition to the [29%] deal under the threat that the full force of the White House press corps would destroy its reputation if it continued to fight.” In a separate interview later with ABC News, Lauria identified the White House auto task force leader Steven Rattner as the official making the threat. Lauria further alleges that others of this group of lender clients have received death threats.
Lauria said on May 1st that he would go to bat against the White House in a lawsuit “of epic proportions” in Bankruptcy court to fight the “abuse [by the White House] of the bankruptcy laws to coerce first-lien lenders to subsidize the rehabilitation of Chrysler or the backstop of the obligations to the pensioners and retirees beyond what they are willing to do voluntarily.” He indicated that he was committed to ensuring that his lender clients “get what they are entitled to for their investors,” who he says include “pensioners, teachers’ credit unions, personal retiree accounts, retirement plans, and college endowments.”
Lauria is steadfast in asserting that the Obama Administration is overstepping its Constitutional role and violating its separation-of-powers bounds, by “abrogating” the basic Constitutional right-to-property and right-to-contract, and by attempting to exert a judicial role in the settling of this contention.
Interestingly, Perella Weinberg Partners issued a statement on May 3rd denying it had been subjected to any political pressure and indicated it was now in agreement with the White House plan, indicating essentially that it considered it good business practice to avoid a nasty fray in bankruptcy court, while the White House issued a statement denying any coercion.
Now, I ask … Tom Laurie would really place his professional career and personal reputation on the line by uttering such allegations falsely against the President of the United States … ?
I say the U.S. Constitution needs to be preserved, protected and defended by We The People against Obama Administration Chicago-style assault.
To allow this Executive-Branch muscling to go unchecked would set a dangerous precedent and further erode the rule of constitutional law. This presidential browbeating is further indication that the tone of governance desired by the Obama Administration is that of a Cosa Nostra dictatorship.
Click here to hear the May 1st 10-minute interview of Tom Laurie.
Mark Levin, of WJR talk radio, giving his incensed two cents: