On Wed, 6 May 2009 07:09:17 -0400, "Eisboch"
wrote:


"HK" wrote in message
...

Chrysler Lenders Must Reveal Identities Today, Judge Rules


By Tiffany Kary

May 6 (Bloomberg) -- Chrysler LLC dissident lenders have until 10 a.m.
today to reveal their identities after a bankruptcy judge rejected claims
that their safety was at risk because of anger over the automaker’s
bankruptcy.

U.S. Bankruptcy Judge Arthur Gonzalez in New York forced the group to file
a list of its members publicly, denying their request to reveal their
identities only to the bankruptcy court. Gonzalez said yesterday the
lenders have no evidence that keeping their identities private would help
protect them. The group seeks to block an auction of most company assets
to an entity managed by Fiat SpA, an outcome Chrysler said would force it
to liquidate, costing thousands of jobs.

Heads on pikes...

Heads on pikes? For what, wanting to be anonymous due to reactions like
yours?
Although I agree the lender's names should be public, since it's a public
legal action, but I also agree that the secured lenders have a legitimate
claim to the assets. It's up to the BK judge to try to work out any
compromise or agreement, according to law.

Chrysler has unfortunately been dead for years. It's being kept alive by
artificial means and financial manipulation. Daimler/Mercedes tried to
resuscitate it to no avail and dumped it.
Legitimate secured lenders have as much right to claim the assets as Fiat
does, regardless of how you may feel about "saving jobs". In fact, any
interference or manipulation of the bankruptcy court's proceedings by the
Fed may be illegal. This will be interesting to watch.

What has happened to the American taxpayer, you, me, the liberal Sob
Brothers Group who post here is this - Obama and his minions buried
the fact that they don’t expect repayment on any of the TARP funds
granted to Chrysler and won’t even keep a position in the company for
any extended period of time.

The American taxpayer will get nothing for the billions of dollars
showered on Chrysler from which the UAW and FIAT will benefit the
most.

Obama's administration said just yesterday that the $8 billion in
“bridge loans” the U.S. taxpayer has given to Chrysler over the past
six months, including $4 billion in bankruptcy financing, won’t be
paid back. Taxpayers also won’t be getting a big slug of Chrysler
stock in exchange.

http://money.cnn.com/2009/05/05/news...oans/index.htm

Chrysler will be divided up among Fiat, Chrysler’s unions, and
Chrysler’s debtholders. Which means that the taxpayers’ $8 billion
was a gift to these three consitituencies.

I wonder whether the Obama administration will explain its “gift” to
the saps who paid for it. I’d say that the explanation is obvious.
The White House wanted to pay off the UAW and used the shell of
Chrysler to do it.

How do you like your boy now?