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Do we really want a President scaring Businesses or Americans with a do it my way or else I will ruin you. That is Saddam, Castro, Chavez type of ruling and our President has to answer to the American people unlike other countries.
After the bailouts, etc. the govt now "owns" what percentage (I forget) in banks & car companies.
* The govt doesn't have a great track record in running fiscal matters
* Would love to hear what a Constitutional expert has to say about how/if these powers are allowed under our Constitution
* Can't believe American citizens are not outraged that Obama & staff are allowed to dictate actions to private companies
* The unions are going to get 55% of Chrysler while investors are told to take a loss - take 29 cents on the dollar.
* Some banks which did not need/want bailout money were "forced" to take it.
* Banks now wanting to give the TARP money back are not being allowed - the Feds won't let them.
* At one time Joe Citizen and Investors may not have believed the statement that the govt threatened to use the WH press corps to ruin a company's reputation if they did not play ball with the Feds. However, with all the govt has been doing - it is not hard to believe.
Oh boy, this should have private investors running to invest in anything which the govt may have a hand in - NOT!
US citizens better get ready to open their pockets - if investors turn away from investing in businesses, the businesses are either going to be hurting even more or someone - the citizens - will have to pay via investing, taxes, or increased job losses.
Lauria said the president saying he doesn't stand with his clients "kind of sounds like 'You're fair game.' In whatever sense. People are scared. They have gotten death treats. Some have been told people are going to come to their houses. God forbid if some nut did something, I'm just wondering how the president would feel."
This sounds far-fetched. If true, I would be shocked and angry, but I don't see why a government that borrows trillions would engage in death threats over 30% of Chrysler debt.
Really? They did it to Henry Ford when he refused to pay minimum wage. BTW he was paying more than that at the time.
Do we really want a President scaring Businesses or Americans with a do it my way or else I will ruin you. That is Saddam, Castro, Chavez type of ruling and our President has to answer to the American people unlike other countries.
Really? And just when do you think that'll happen?
Lauria;I can tell you for sure that I represent one less investor today than I represented yesterday. One of my clients was directly threatened by the White House, and in essence compelled to withdraw its opposition to the deal under threat that the full force of the White House press corps would destroy its reputation if it continued to fight. That's how hard it is to stand on this side of the fence.
Beckmann: Was that Perella Weinberg?
Lauria: That was Perella Weinberg.
Beckmann: All right.
From what I have heard, Tom Lauriais a very well respected, top tier lawyer, so if he makes public statements like these, they should be taken very seriously.
From what I have heard, Tom Lauriais a very well respected, top tier lawyer, so if he makes public statements like these, they should be taken very seriously.
And for the banks that went along with the "deal" you have to remember they were/are the ones that received TARP funds so they had no choice but to "play ball".
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