In the Chrysler bankruptcy 8 billion taxpayer dollars will go to secure an amount for the UAW pension fund 4 times that of what the other creditors will get. In normal bankruptcy hearings those ratios would never hold up. Obama administration legal goons are threatening hedge fund holders and non-Tarp financial institutions with ruination if they don't accept the unfair terms. This is politics The Chicago Way and Rahm and Barack are bringing it to mainstream America.
It is important to understand what is happening here. Many think that Obama is merely engaging in crony capitalism, favoring his political supporters (most notably the Auto Workers Union) at the expense of others. That's true, of course, but it is much worse than that: Obama has tried to bully those who have not bought his favor--Chrysler's non-TARP secured creditors--into giving up their legal rights by threatening to use the powers of the White House to damage their businesses. This sort of lawlessness is common in some of the more corrupt Third World countries, but it is brand new to the United States.
Hope, Change and outrageous dictatoresque bullying.
Heard about any of this in the Main Stream Media? No? That's how it works in Venezuela too. Obama must be reading the book Chavez gave him.