Posted by: bj | August 24, 2009

Obama Destroys : THE RULE OF LAW IN AMERICA

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………………………..

 

 

 

 

 http://www.in.gov/tos/files/TreasurerMourdockIssuesDirective051809.pdf

Supreme court refuses to hear first position chrysler bond holders position. THE RULE OF LAW IS   DEAD  ……….  Again             

 

 

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Responses

  1. I wonder if anyone has looked into what the “union” laborer contributes to society. I am bewildered why most written word condems the worker and pushes for a lower standard of living for the masses ie:the American laborer. Try raising a family in todays world with a wage of 17.00 per hour while the other side is making indecent salaries. I see on a daily basis how the classes are rapidly being divided into the “haves” and the “have nots” eliminating the middle class. Has anyone noticed that the stay at home mother is gone. The dual income household is a matter of survival not a choice of extending ones financial situation. The union is the last hope for the working class. This subject has many dynamics but the bottom line is that the union is a consolidation of the working class attempting to make a decent competitive wage and benefit package. I see wage cuts and benefit cuts and personel cuts but I don’t see price cuts.
    Can you explain the taxes being paid in Indy for the imploded building, or the tax to susidize professional athelets. The political situation is irreversibly out of control and the media wants to pick on the group solely responsible to fund this irresponsible behavior. My days are limited and I have no children so I gladly leave this world to the “resposible” financial leaders to pull the strings, padding thier pockets forever attempting to get all that others have worked so hard attain. What is the price you put on the next generation of have nots. We all cannot be haves!

    • You have completely missed the point . The State of indiana loaned Chrysler $6.5 million. They were in first place to be repaid ahead of all other creditors and owners. When they went under, Obama paid they $.29 on the dollar, when they should have received 100 % of the dollar. He then gave the union more than $.29 on the dollar (when they were legally entitled to zero) and gave them 55% ownership. This was agains the law. Who would ever loan any one any money in the future if Obam could just step in and say that the $$ did not have to be repaid? The rule of law in the USA is what makes us different from any other country in the world. Now the rule of law is DEAD, DEAD, DEAD.

      I have nothing against union members. They are the MAKERS. They create products and wealth and pay taxes. The union executives are TAKERS. THEY CREATE NOTHING.

      The union menbers would be money ahead if they kept their union dues in their own pockets rather than paying that $ to the TAKERS, THEIR UNION BOSSES.


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