Is Obama Breaking The Law?

Friday Chrysler LLC was in the Manhattan bankruptcy court of Judge Arthur Gonzalez.  Chrysler attorney Corinne Ball said, "I don't think that any American can doubt that these are extraordinary times, and we are quite mindful of the view of many experts that no car company can survive in Chapter 11. To that we say, ‘yes we can.’"

Our socialist President Barack Hussein Obama was deeply involved in the negotiations that led up to the filing for Chapter 11. John Pottow a University of Michigan professor, who specializes in bankruptcy, said the government's level of involvement is much greater than in a typical corporate bankruptcy.  He said, "if you have the President of the United States who wants something to happen, I think anything's possible in bankruptcy protection."

Socialist Obama whose only experience is as a community organizer has forced Chrysler to sell to Italy’s Fiat SpA.  Obama has made sure that all except one group is taking care of in this bankruptcy. Unfortunately for you and I the group that Socialist Obama has decided not to look out for are the American taxpayers who invested in small investment firms and hedge funds.

In an unprecedented move Thursday Socialist Obama chastised the funds for seeking an "unjustified taxpayer funded bailout." Socialist Obama while chastising these funds fails to say that he is attempting to rewrite bankruptcy laws. I wasn't aware the President could rewrite laws.

This group holds Chrysler bonds. Under bankruptcy laws bondholders are above almost all other entities that hold a corporations debt. Is Socialist Obama breaking bankruptcy law in attempting to distribute Chrysler's stock in a way not provided for in bankruptcy law?

Big banks who have received billions of dollars in TARP funds have agreed to take pennies on the dollar for the debt that Chrysler owes them. Did Obama bully these banks because of the TARP funds to accept this deal? Or have the bank's been promised some more TARP money to cover their write off of Chrysler debt?

If Chrysler comes out of bankruptcy the big winner is the UAW. Under Socialist Obama's bankruptcy plan the UAW will own 55% of Chrysler. The U. S. Government will own 8% and the Canadian government and the Province of Ontario will share 2%. Initially Fiat will have 20% of Chrysler.

America why is socialist Obama protecting the UAW and not American taxpayers who hold bonds? Is this paying back a campaign debt to the UAW? Does socialist Obama consider those of us who are fortunate enough to invest in bonds to be those rich evil people who hold back the nonworkers?

Let's hope Judge Gonzalez doesn't let socialist Obama and his administration lead him into going along with Obama's plan if it is not equitable for everyone involved. Obama is President he doesn't make the laws and he shouldn't break the laws as it appears he is trying to do in this bankruptcy.

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