12:08 pm:
Obama in 'da house.
12:13 pm:
I can announce that I saved Chrysler, nothing is fucked, I am safeguarding taxpayer dollars, Fiat is going to save the day (oh and Canada too).
12:13 pm:
Bob Nardelli is a cool guy. No. Seriously. (But he's fired).
The UAW cut down to the bone, and then found more muscle to cut. It was amazing.
You, America, will also be sacrificing.
12:15 pm:
Some stakeholders did NOT cooperate.
Damn hedgefunds held out waiting for a unjustified taxpayer bailout.
Some demanded twice the return of other stakeholders.
I don't stand with them I stand with Chrysler's (everything).
12:16 pm:
Bankruptcy is not a sign of weakness.
This process will be quick.
12:18 pm:
Oh, I almost forgot.
Hedge Funds suck.
It is unacceptable for a small group of speculators to endanger my success.
As such an effective and diligent steward of your taxpayer dollars I was not prepared to provide unlimited bailout funds or to reward greed.
This is going to be our finest hour 30 60 days. Seriously. 'kaythanksbye.
Posted by guest , Apr 30, 2009 12:14PM
I think we have a partnership
Posted by guest , Apr 30, 2009 12:15PM
Who makes "The Beast" and does the WH have a guarantee on it?
Posted by guest , Apr 30, 2009 12:16PM
Those evil hedge funds fucking everybody again.
Posted by guest , Apr 30, 2009 12:16PM
"bankruptcy is not a sign of weakness"
Posted by guest , Apr 30, 2009 12:17PM
hedge funds are screwing the taxpayer
Posted by guest , Apr 30, 2009 12:17PM
My name's Barry and I guarantee that in the future only evil hedge funds and their evil investors (pension funds, teachers unions, insurance companies, charities, universities... you know that crew) are fucked.
Posted by guest , Apr 30, 2009 12:17PM
Ha - you Wall Street liberals are getting a great return on your contributions to the Obama campaign.
He does not stand with you. You must sacrifice.
"Hedge funds" have become the new evil straw man. You're all screwed.
Posted by guest , Apr 30, 2009 12:17PM
hedge funds are screwing the taxpayer
Posted by guest , Apr 30, 2009 12:18PM
so by fucking the debt holders has barry finally paid his union dues for getting him elected?
Posted by guest , Apr 30, 2009 12:19PM
Yeah a "small group of speculators" are to blame for Chrysler's blow-up.
What a fucking joker this guy is.
Posted by guest , Apr 30, 2009 12:19PM
obama the car salesman- if you decide to buy a car, i hope it will be a chrysler. don't forget about our amazing warranty!
Posted by guest , Apr 30, 2009 12:20PM
we as a nation must stand shoulder to shoulder against the imperialist financial pirates who somehow feel that their senior debt somehow entitles them to something
Posted by Investorcluzo , Apr 30, 2009 12:20PM
chrysler warranties backed by you the tax payer, er, I mean, the u.s. government. market rally in 5, 4, 3...
Posted by guest , Apr 30, 2009 12:20PM
New hedge fund regs on the way ASAP!
Posted by guest , Apr 30, 2009 12:21PM
what a load of cock
Posted by guest , Apr 30, 2009 12:22PM
TOTUS
Teleprompter of the United States
Posted by SgtJack , Apr 30, 2009 12:23PM
this process will be as quick as an old man taking a leak, but more frustration
Posted by guest , Apr 30, 2009 12:25PM
$4billion Taxpayer money forked over 4 months ago goes up in smoke in 5...4...3...
Posted by guest , Apr 30, 2009 12:25PM
barry has not had a good week. at all
Posted by guest , Apr 30, 2009 12:27PM
I'd run from Chrysler like a pig with a bad cough
Posted by guest , Apr 30, 2009 12:27PM
Shake hands with the government or it will destroy you.
Posted by guest , Apr 30, 2009 12:28PM
so does this now mean that chrysler is now protected against claims by the uaw?
Posted by guest , Apr 30, 2009 12:28PM
@18 remember how back then they said that they wanted the money back if chrysler turned out to NOT be viable?
epic.....
fail.....
Posted by american bandersnatch , Apr 30, 2009 12:29PM
I remember when the vet had to put my dog to sleep. I was sad and thought it was unfair. I'm sure O feels the same way about Chrysler.
Posted by merkin capital partners , Apr 30, 2009 12:31PM
I think it's about time for a speech from Dealey Plaza.
Posted by guest , Apr 30, 2009 12:33PM
Did I hear that right? Did Barry just say "If you are considering buying a car, I want you to buy an American car"? What, now that the White House just took a massive dump in contract law and bankruptcy law, is it about to f*ck the WTO in the ass as well?
Posted by guest , Apr 30, 2009 12:33PM
It's all about simple math:
Chrysler hedge fund investors: ~200 voters
UAW voters: ~500,000 voters
If you thought this was ever about anything other than politics, you're a fucking idiot.
Barry O can go to hell (and probably will).
Posted by guest , Apr 30, 2009 12:34PM
RE:
12:18 pm:
Oh, I almost forgot.
Hedge Funds suck.
and with that should be lumped the US Constitution and Spreme Court who gave and would back up the rights that the HFs hold in this.
D@mn and the mighty O thought he had all bases covered with the turn of the Specter screw. Now.... how does POTUS eliminate SCOTUS?!
Posted by guest , Apr 30, 2009 12:35PM
You see, this is why we're leaving
/Texas
Posted by guest , Apr 30, 2009 12:37PM
Someone should have told these hedgefund masters of the universe that it is usually not a good idea to get into a game of chicken with the President of the United States.
You may have experience trading/investing large amounts of money but this is beyond your paygrade.
See you at the confirmation hearing, fuckheads.
-Big O
Posted by SgtJack , Apr 30, 2009 12:37PM
@25 wow.
dog and pony shows on the reg...
Posted by chernevik , Apr 30, 2009 12:39PM
I decide who has and hasn't sacrificed enough.
People dependent on me for capital and regulatory forebearance get that.
Independent people of me don't, so we're gonna have to make them dependent on me.
I mean, regulate them to avoid systemic risk and tax them out of fairness.
Also, you're all going to have to buy electric cars once the EPA gets done regulating carbon. Rumors that only Chrysler cars will meet the regulatory standard are just crazy talk. They'll cost $50,000, but I've decided it's a sacrifice you need to make.
Posted by guest , Apr 30, 2009 12:41PM
Is it possible for Obama to speak for more than 1 minute without blaming or villifying someone?
Posted by guest , Apr 30, 2009 12:41PM
Damnable liens and bankruptcy rights. What in the world are the hedgies thinking, that they could rely on their federally recognized statutory rights to get paid before the union? Inexcuseable. Immediate execution is the only alternative.
Posted by guest , Apr 30, 2009 12:42PM
Wh id ever going to invest ina corporation again after this?
Posted by guest , Apr 30, 2009 12:45PM
I feel like I should be singing here:
"When you walk through a storm keep your head up high,
And don't be afraid of the dark.
At the end of a storm is a golden sky
And the sweet silver song of a lark.
Walk on through the wind,
Walk on through the rain,
Tho' your dreams be tossed and blown.
Walk on, walk on with hope in your heart,
And you'll never walk alone,
You'll never walk alone!"
Bwwwwaaaaawaaaawwaaaawaaa.... it's too painful.... booohoooohooooohooo....
Posted by guest , Apr 30, 2009 12:46PM
@30,
Because 143 days in the Senate makes him infinitely more experienced and qualified than anyone else, right? Back to Yahoo Finance. Jackass.
BTW, his paygrade is about $400k. Not exactly setting the bar high.
Posted by guest , Apr 30, 2009 12:47PM
we're going to show those "money people" who's boss.
Posted by guest , Apr 30, 2009 12:50PM
EP, stupid spin.
Bwwwwaaaaawaaaawwaaaawaaa.... it's too painful.... booohoooohooooohooo....
Posted by guest , Apr 30, 2009 12:52PM
Even the Mother's and Father's Italian Association has scruples.
Posted by guest , Apr 30, 2009 12:53PM
Barry is ugly and has big ears.
So there.
Posted by guest , Apr 30, 2009 12:53PM
@37
Haha! You just proved my point. You can only think of power in terms of monetary compensation.
This guy took down the Clinton machine in the Democratic party. What have you done lately?
-30
Posted by guest , Apr 30, 2009 12:54PM
Guess the hedgies didn't get the memo that we've converted to a socialist system. Get Rahm on that asap.
Posted by guest , Apr 30, 2009 12:55PM
@37
Haha! You just proved my point. You can only think of power in terms of monetary compensation.
This guy took down the Clinton machine in the Democratic party. What have you done lately?
Remember that power doesn't corrupt, it reveals.
-30
Posted by guest , Apr 30, 2009 12:57PM
we should buzz downtown Manhattan again to shake em up a bit
Posted by guest , Apr 30, 2009 12:57PM
The UAW is like Social Security. They take your dues now, promise to pay you benefits later, and waalaa, you're screwed.
- Ruth Madoff
Posted by guest , Apr 30, 2009 12:58PM
@ 42 and 44
wait until the bond and equity markets throw up on Barry's plans
then you'll see who the BMOC is
Posted by guest , Apr 30, 2009 1:07PM
Hey Barry, your dog is ugly.
Chris Berman
Posted by guest , Apr 30, 2009 1:08PM
@47
Just like they took down FDR for the NRA, WPA, the SEC, etc...?
Just like they took down Reagan for the long-term structural deficits he created?
Where are the bond and equity investors going to go? Russia, China.....
Wishful thinking on your part.
-44
Posted by guest , Apr 30, 2009 1:11PM
"Nardelli [the CEO] says the new company will be run by a nine-person board, with six picked by the government and three by Fiat. The board will pick a new CEO.
This is the point of all this.
Obama also selected a new CEO for BofA yesterday.
Community activists will be running our major corporations.
Posted by: Enchanted at April 30, 2009 12:09 PM (+sBB4)"
http://minx.cc/?post=286671
Posted by guest , Apr 30, 2009 1:13PM
@30/42/44,
You were the one that brought up the "paygrade" argument. Don't want to talk about money? Don't talk about paygrades, assclown.
And the guy that "took down the Clinton machine" hired half of the fucking Clinton administration, so, uh... yeah...
I guess the presidency has revealed Barry to be a complete idiot, instead of just your standard garden variety idiot.
-37
Posted by guest , Apr 30, 2009 1:16PM
@ 47
gold, silver, copper...no need to invest in countries and their worthless fiat currencies
Posted by guest , Apr 30, 2009 1:18PM
@17 FTW
Posted by guest , Apr 30, 2009 1:25PM
Market opens up a fair amount...Obama speaks...market drops...
Woa...Deja Vu
Posted by guest , Apr 30, 2009 1:27PM
@51
Again you miss the point. Not only did he take down the Clinton machine, he turned it into his own.
Chrysler sends a message to all the bondholders of GM and the insolvent banks.
O is an idiot? Really? A 47 year-old black community activist gets himself elected President of the United States.
Posted by guest , Apr 30, 2009 1:28PM
http://www.youtube.com/watch?v=HuGIgf-ICHM
Posted by guest , Apr 30, 2009 1:29PM
I know we all find it funny, but the developments over the past year from Bush and Obama are very disturbing.
The frog is boiling.
Posted by guest , Apr 30, 2009 1:32PM
#57, I knew O'Reilly should not have made those statements about "freedom fries".
Posted by guest , Apr 30, 2009 1:33PM
@57 Go long RGR, SWHC and GLD.
~the Muleskinner~
Posted by guest , Apr 30, 2009 1:34PM
It's twuuu, It's twuuuuuuu!
- Michelle Obama
Posted by guest , Apr 30, 2009 1:35PM
@55
Go back to Macy's passing out samples of Drakkar cologne. BTW, I heard the latest issue of Grape Soda Magazine is out. Get some!
Posted by guest , Apr 30, 2009 1:35PM
Go long KFC
Posted by guest , Apr 30, 2009 1:40PM
The Detroit unions didn't get Barack elected - directly, at least. In case you forgot, Michigan didn't have its primary votes counted (would have gone Hillary) and the general election wasn't close enough for Michigan to matter.
Granted it's nice that he's finally living up to Marx and hooking the proletariat up with the means of production.
Posted by guest , Apr 30, 2009 1:40PM
When the President talks, Americans gets hurt.
http://www.youtube.com/watch?v=bpUPW4FL6Mo
Posted by guest , Apr 30, 2009 1:41PM
There's a lot of crying on this board but I'm not sure why.
Anyone who couldn't see the risk of something like this coming down the pipeline over the last 6+ months should have their MBA gold star removed from their mom's refrigerator.
There's no way institutional money was going to take a haircut that big without collecting on their CDS first. I'm sure that there will also be some savvy PM's that make a lot of money on this.
Posted by guest , Apr 30, 2009 1:41PM
I hate you Barry.
I hate you.
I hate you.
I hate you.
Sincerely,
Charles "The Prince" Gasparino
Posted by Anal_yst , Apr 30, 2009 1:42PM
Net-net, I'm curious how many people (and to what magnitude) are getting f*cked here. Screw the equity/bondholders (end-owner being pensions, endowments, etc) for the good of the UAW?
Posted by guest , Apr 30, 2009 1:45PM
#60 - it's only half twuuu
Posted by guest , Apr 30, 2009 1:46PM
#60 - it's only half twuuu
Posted by guest , Apr 30, 2009 1:48PM
Obama = LOBSTERWAGON with three wheels and an ugly wife
Posted by guest , Apr 30, 2009 1:55PM
MEMO
From: The President of the United States of America.
To: Hedge funds/Sucker bondholders
My fellow Americans,
I think in all fairness I should explain to you exactly what it is that I do. For instance, tomorrow morning I'll get up nice and early take a walk down over to the bank and walk in and see you and um, if you don't have my money for me, I'll crack your fuckin' head wide open in front of everybody at the bank. And just about the time that I'm coming out of jail, hopefully you'll be coming out of your coma and guess what? I'll split your fuckin' head open again 'cuz i'm fuckin' stupid, I don't give a fuck about jail. That's my business. That's what I do.
You put my money to sleep, [and] I'll put your fuckin' brain to sleep!
Respectfully yours,
BHO
Posted by guest , Apr 30, 2009 2:02PM
Torture works. Just ask Michelle Obama's vagina.
Posted by miami , Apr 30, 2009 2:06PM
It's amazing how the only thing that can save the Republicans continues to happen -- the continued and monumental stupidity of Democratic leaders.
It's also amazing how quickly the Dems forgot 1994. [and 2004].
The fact that a charismatic liar with poor grades got elected doesn't make him smart....it means he was popular than the other guy from the Senate. Nothing more, nothing less. He got worse grades than the Libertarian candidate at Columbia, ffs.
And yes, anyone still in these securities probably got their MBA from Stanford. Or Thunderbird.
Posted by guest , Apr 30, 2009 2:29PM
What's the carbon footprint in burning a hedge fund manager alive? Better be higher than your BTU value or most of you are doomed.
Posted by guest , Apr 30, 2009 2:32PM
Michelle Obama has a vagina?
Posted by guest , Apr 30, 2009 2:40PM
@50 Obama selected a new CEO for Bank of America yesterday?
Perhaps you're referring to how Bank of America shareholders voted in a new Chairman of The Board?
back to yahfin plz
Posted by guest , Apr 30, 2009 2:43PM
@75
I think you're spelling Michael's name wrong.
Posted by guest , Apr 30, 2009 3:37PM
I have never been so entertained as to watch bondholders telling the Word of God to f- off. As @65 said, it was clear as day this was going to happen. What rational investor would give up all of their rights for no gains just so a bunch of whiny union workers can keep their pensions and their healthcare benefits? Besides at the end of the day, the unions are taking money from their own pocket and putting it in the other. No one ever said they were bright.
Posted by guest , Apr 30, 2009 3:43PM
@75 She wears underwear with dick holes in them.
-Delaware Destroyer
Posted by guest , Apr 30, 2009 3:48PM
Dealbreaker....whoever wrote your interpretation of the Presidents news conference is an IDIOT. Big Panda OUT!
Posted by guest , Apr 30, 2009 3:59PM
sorry to burst your bubble here but you have been watching the reality tv series "America: The First 100 Days." There was never going to be a negotiated settlement, it was unfeasible to keep the dealers and asbestos liabilities continuing.
You have been watching a carefully editted series to make you believe that the bad guys were good and the good bad when they failed to agree to the former's absurd terms. The producers have also succeeded in making you believe the good guys were evil and that the producer made a fantastic show.
Please go to the imdb.com dbase now, rate the show and supply your helpful, user comments.
Posted by guest , Apr 30, 2009 4:13PM
what did you expect from the company who made the 'caravan'? I drive a dodge stratus! People are afraid of me!
Posted by guest , Apr 30, 2009 4:13PM
what did you expect from the company who made the 'caravan'? I drive a dodge stratus! People are afraid of me!
Posted by guest , Apr 30, 2009 4:16PM
what did you expect from the company who made the 'caravan'? I drive a dodge stratus! People are afraid of me!
Posted by guest , Apr 30, 2009 4:45PM
FROM BLOOMBERG : The objections from the group of lenders also drew criticism from Michigan lawmakers, including Democratic Representatives John Dingell and Sander Levin.
“The rogue hedge funds that refused to agree to a fair offer to exchange debt for cash from the U.S. Treasury, firms I label as the ‘vultures,’ will now be dealt with accordingly in court,” Dingell said.
“It is outrageous that a handful of hedge funds and other creditors have refused to join all the other stakeholders in participating in the restructuring necessary to pave the way for a Chrysler-Fiat alliance,” said Levin.
Let me get this straight, persons or entities are no longer able to freely choose what they believe will result in the best outcome for them with their own investments and/or the money that others have entrusted to them.
If you agree with Dingell I would suggest that you leave the country and go directly to the nearest dictatorship and apply for citizenship.
Let me also make a supposition that if the "rouge hedge funds" did accept $0.10 per dollar instead of the $.076 or $0.85 that the UAW and US Government were getting respectively they would be charged with abdicating their fiduciary duty, admit it or not folks, this adminstration has declared war on wealth and the wealthy.
Posted by NAS Keflavik boi , Apr 30, 2009 4:54PM
they shoulda never stopped makin' the slant-six... That motor could run on one quart of oil and a 3/4 empty radiator.
Posted by guest , Apr 30, 2009 6:29PM
I personally think this is a good plan. Who cares who thought of the idea, 30,000 jobs will be saved, a dying car company has a second chance, and now I don't have to import parts to get my car fixed ;)
Watch this take on the whole thing:
http://www.newsy.com/videos/chrysler_in_for_repairs/
Posted by guest , Apr 30, 2009 9:05PM
LITTLE BAILOUT GTO
(Ronnie and the Daytonas, Little GTO)
WilliamBanzai7
Sing along link: http://www.youtube.com/watch?v=44kg0IENTPU
Little GTO, you’re really lookin mighty fine.
Three billion deuces, a four speed haircut–its Section 363 Bankruptcy time
Listen to her tachin’ up now, listen to her why-ee-eye-ine
C’mon and turn it on, wind it up, blow them bondholders out GTO
You oughta see her on a cash burn course for a quarter mile
This little bailout Pon-Pon has got plenty of high finance style
She beats the union gassers and them greedy hedge hoggers, really drives ‘em why-ee-eye-ild
C’mon and turn it on, wind it up, blow them bondholders out GTO
President Obama sings:
Gonna save some TARP money (turnin’ it on, blowin’ it out) and buy a GTO (turnin’ it on, blowin’ it out)
Get a bailout helmet, an Italian roll bar (turnin’ it on, blowin’ it out) and I’ll be ready to go (turnin’ it on, blowin’ it out)
Take it out to Pomona (turnin’ it on, blowin’ it out) and let ‘em know (turnin’ it on, blowin’ it out), yeah, yeah
That expedited Chapter 11’s the coolest thing around
Greedy little bondholders, gonna shut you down
When we turn it on, wind it up, blow them bonds out GTO
Posted by guest , Apr 30, 2009 10:55PM
does anyone else here run a book with positions against Chrysler? If not, you probably have next to nothing at stake.
Posted by guest , May 05, 2009 9:19PM
It is time to really expose this poser. Liberal "smart money" (a new oxymoron!) that backed Obama deserves their no lube ass fucking.
Wake up and lets buy up the media while its cheap and expose the Halfrican-American for what he is. A fascist.
The guy got in the US House by running in an IL democratic district and disqualifying all his primary opponents from the ballot on technacalities. Then he gets into the US Senate because the Jerry Ryan divorce swinger scandal was leaked to the media (mostly likely by Obama's friends in the democratic controlled Cook County courts. Ryan's husband, Obama's opponent drops out at the last minute and unknown Obama wins.
Look all this up for yourself.
Was this covered in the presidential election? No. Sex scandal and a presidential candidate not covered? Come on, when does that happen.
And no one knows where Obama was born like what hospital. All they have provided is the Hawaii short form birth certificate which doesn't show the hospital. Also Hawaii was giving these out to anyone who was born within a year of coming to Hawaii according to reports. And there have been reasonable evidence that Obama's mother might not (or could not) have been in Hawaii at the time of his birth (in Seattle or Africa).
There is also the question of whether his citizenship in the US was renounced when he was in Malaysia (Indonesia?) and they didn't allow dual citizenship. Once renouced, citenzship can not merely be reassumed.
So he disqualifies his opponents on technicalities and gets a free ride on the most important requirement for president - a native born citizen.
Smart? No just arrogant and well spoken. Big difference. All of us that went to top tier schools know the difference. Plenty of classmates were smart compared to the public at large which is faint praise but we also knew they didn't below there.
I was at Harvard roughly when Obama was. In one of their other equally prestigious grad schools there were plenty of legacies and affirmative action cases that obviously didn't belong there.
Obama was both a legacy and an affirmative action case. Has anyone ever looked at his SATs or LSATs the way people harped on Bush's (which reportedly were about the same as Gore's by the way). Did he get and deserve affirmitative action since he is half white and raised by a white family (making him arguably more white than black). Plus his black half is direct from Kenya and attended Harvard so how was his black half disadvantaged by slavery or segreation in the US?
Did he really belong at Harvard?
Law Review? The guy has no respect for contract or bankruptcy law. Supreme Court he wants someone that has empathy? Empathy for who? The Supreme Court doesn't really decide cases, it decides law. And not just for one case, but for decades if not hundreds of years. You don't have to go to law school to know this.
Obama has an agenda far different than upholding the laws of this nation and the constitution.
We should call for empeachment hearings as he is not upholding the laws.
What constitutional basis does he have to do these bailouts?
10th amendment provides for the regulation of interstate commerce - not the participation in it.
Start using your money to fight back. Shun Obama supporters in business and reward his opponents. Give Oppenheimer extra business for fighting and pull money from Perella and others who caved.
Do not advertise with or buy from Obamas supporters. Boycott hiring from schools supporting Obama (and other liberal idiocacy). Columbia, Harvard Law, Yale Law are good places to start. If the students and alumni can't get hired they might start pressuring their Boards or even better take over the boards and return sanity to their institutions.
Frankly I think the guy has severe mental issues stemming from being abandonded by his dad. He is more interested in his personal agenda than in what is best for the country. He writes a book, Dreams of My Father but he doesn't know his father who he spent what, 2 months with? His father who a Kenyan gets a chance to go to Harvard is just a drunk, reportedly a bigamist, and then loses his legs in one drunken car wreck and doesn't learn and kills himself in another.
So we have the product of a naive idiot liberal and a drunken Kenyan loser bigamist as our President.