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.
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I think we have a partnership
Who makes “The Beast” and does the WH have a guarantee on it?
Those evil hedge funds fucking everybody again.
“bankruptcy is not a sign of weakness”
hedge funds are screwing the taxpayer
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.
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.
hedge funds are screwing the taxpayer
so by fucking the debt holders has barry finally paid his union dues for getting him elected?
Yeah a “small group of speculators” are to blame for Chrysler’s blow-up.
What a fucking joker this guy is.
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!
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
chrysler warranties backed by you the tax payer, er, I mean, the u.s. government. market rally in 5, 4, 3…
New hedge fund regs on the way ASAP!
what a load of cock
TOTUS
Teleprompter of the United States
this process will be as quick as an old man taking a leak, but more frustration
$4billion Taxpayer money forked over 4 months ago goes up in smoke in 5…4…3…
barry has not had a good week. at all
I’d run from Chrysler like a pig with a bad cough
Shake hands with the government or it will destroy you.
so does this now mean that chrysler is now protected against claims by the uaw?
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.
I think it’s about time for a speech from Dealey Plaza.
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?
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).
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?!
You see, this is why we’re leaving
/Texas
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
@25 wow.
dog and pony shows on the reg…
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.
Is it possible for Obama to speak for more than 1 minute without blaming or villifying someone?
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.
Wh id ever going to invest ina corporation again after this?
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….
@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.
we’re going to show those “money people” who’s boss.
EP, stupid spin.
Bwwwwaaaaawaaaawwaaaawaaa…. it’s too painful…. booohoooohooooohooo….
Even the Mother’s and Father’s Italian Association has scruples.
Barry is ugly and has big ears.
So there.
@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
Guess the hedgies didn’t get the memo that we’ve converted to a socialist system. Get Rahm on that asap.
@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
we should buzz downtown Manhattan again to shake em up a bit
The UAW is like Social Security. They take your dues now, promise to pay you benefits later, and waalaa, you’re screwed.
- Ruth Madoff
@ 42 and 44
wait until the bond and equity markets throw up on Barry’s plans
then you’ll see who the BMOC is
Hey Barry, your dog is ugly.
Chris Berman
@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
“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
@ 47
gold, silver, copper…no need to invest in countries and their worthless fiat currencies
@17 FTW
Market opens up a fair amount…Obama speaks…market drops…
Woa…Deja Vu
@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.
http://www.youtube.com/watch?v=HuGIgf-ICHM
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.
#57, I knew O’Reilly should not have made those statements about “freedom fries”.
@57 Go long RGR, SWHC and GLD.
~the Muleskinner~
It’s twuuu, It’s twuuuuuuu!
- Michelle Obama
@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!
Go long KFC
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.
When the President talks, Americans gets hurt.
http://www.youtube.com/watch?v=bpUPW4FL6Mo
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.
I hate you Barry.
I hate you.
I hate you.
I hate you.
Sincerely,
Charles “The Prince” Gasparino
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?
#60 – it’s only half twuuu
#60 – it’s only half twuuu
Obama = LOBSTERWAGON with three wheels and an ugly wife
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
Torture works. Just ask Michelle Obama’s vagina.
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.
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.
Michelle Obama has a vagina?
@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
@75
I think you’re spelling Michael’s name wrong.
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.
@75 She wears underwear with dick holes in them.
-Delaware Destroyer
Dealbreaker….whoever wrote your interpretation of the Presidents news conference is an IDIOT. Big Panda OUT!
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.
what did you expect from the company who made the ‘caravan’? I drive a dodge stratus! People are afraid of me!
what did you expect from the company who made the ‘caravan’? I drive a dodge stratus! People are afraid of me!
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.
they shoulda never stopped makin’ the slant-six… That motor could run on one quart of oil and a 3/4 empty radiator.
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/
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
does anyone else here run a book with positions against Chrysler? If not, you probably have next to nothing at stake.
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.