The State of Indiana invested $6.5 million in Senior (first position Chrysler Bonds) . In the first position, according to the rule of law and historical law, Indiana was entitled to receive 100% of its investment back before any other creditors are paid.
The end result: Obama pays Indiana 29 cents on the dollar, and allows other unsecured creditors (the United Auto Workers – Union) to receive more than 29 cents on the dollar on their unsecured debt and also 55% ownership of Chrysler common stock.
I guess it pays to make a lot of $$$ contributions to Obama and the unions.
THE FINANCIAL LENDING MARKETS ARE DEAD IN THE US. WHY SHOULD ANY LENDER MAKE ANY ONE A LOAN, WHEN OBAMA CAN CHANGE THE RULES WHICH HAVE BEEN ESTABLISHED FOR HUNDREDS OF YEARS?
THE RULE OF LAW IS DEAD.
PLEASE HELP US LORD………………………..
Supreme court refuses to hear first position chrysler bond holders position. THE RULE OF LAW IS DEAD ………. Again