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Lawyer Thomas Lauria claimed publicly that the White House administration threatened to ruin the reputation of one of Chrysler's creditor firms if they continued to oppose the White House plan for Chrysler's bankruptcy. He said the Obama admin would use the White House press corps to discredit the reputation of the firm.
White House deputy press secretary Bill Burton denies the claim of a threat.
True, not true. Who knows? Evidently there is no proof.
Lauria: Let me tell you it’s no fun standing on this side of the fence opposing the President of the United States. .......... One of my clients was directly threatened by the White House and in essence compelled to withdraw its opposition to the deal under the 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. Island Turtle: White House uses strong arm tactics to extort concessions from lenders
Quote:
The Obama administration threatened to use the White House press corps to besmirch the reputation of one of the financial firms that holds Chrysler debt, according to a prominent New York bankruptcy lawyer. White House "Directly Threatened" Perella Weinberg Over Chrysler
Quote:
A leading bankruptcy attorney representing hedge funds and money managers told ABC News Saturday that Steve Rattner, the leader of the Obama administration's Auto Industry Task Force, threatened one of the firms, an investment bank, that if it continued to oppose the administration's Chrysler bankruptcy plan, the White House would use the White House press corps to destroy its reputation. White House Denies Charge By Attorney that Administration Threatened to Destroy Investment Firm's Reputation* - Political Punch
somebody sure is getting wealthy off of the chrysler bankruptcy:
Today’s Chrysler Court Docs: Debtors’ Lawyers Get $24.7 MILLION so far.
By Robert Farago
May 5, 2009
So far today, the only motion filed: Chrysler debtors’ application to employ Schulte Roth & Zabel (SRZ) as “special counsel” .
11. During the twelve-month period prior to the Petition Date, SRZ received from the Debtors an aggregate of approximately $24,710,000 for professional services performed and expenses incurred for and on behalf of the Debtors. In addition, in April 2009, the Debtors received a retainer of $2,000,000. SRZ has applied the entire retainer to fees and expenses incurred on behalf of the Debtors and its current balance is $0.
12. The customary hourly rates of SRZ attorneys are as follows: (a) between $715 and $880 for partners, (b) between $645 and $670 for special counsel, (c) between $265 and $615 for associates, and (d) between $110 and $305 for legal assistants.
somebody sure is getting wealthy off of the chrysler bankruptcy:
Today’s Chrysler Court Docs: Debtors’ Lawyers Get $24.7 MILLION so far.
By Robert Farago
May 5, 2009
11. During the twelve-month period prior to the Petition Date, SRZ received from the Debtors an aggregate of approximately $24,710,000 for professional services performed and expenses incurred for and on behalf of the Debtors. In addition, in April 2009, the Debtors received a retainer of $2,000,000. SRZ has applied the entire retainer to fees and expenses incurred on behalf of the Debtors and its current balance is $0.
12. The customary hourly rates of SRZ attorneys are as follows: (a) between $715 and $880 for partners, (b) between $645 and $670 for special counsel, (c) between $265 and $615 for associates, and (d) between $110 and $305 for legal assistants.
Now there's a whole lotta change we can believe in.
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