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Wall Street Journal just posted this latest Treasury audible. With zero evidence to support my concerns over the timing, I am asking myself if the Obama administration is trying to split liberals/progressives, who are dominating news cycles on the torture revelations.
Treasury Makes New Offer to Chrysler’s Lenders
[...]That’s up from an earlier Treasury proposal that the banks and other lenders accept 15% of what Chrysler owes them and receive no Chrysler stock.
The lenders, which include Citigroup Inc. and J.P. Morgan Chase & Co., rejected that offer outright and instead proposed Monday they get paid about 65% of the debt, or about $4.5 billion.[...]
I hope my concerns are flat wrong.
2 Comments
As long as the financial industry sees Obama’s economic team as being of the same ilk as themselves, they will keep pushing for the taxpayer to take their lumps for them.
Get used ot it; you been sold out.
I agree with ubetcha.
What Geithner, Paulson, Obama and other fools didn’t anticipate is that the banks are going to game the various bailouts to try to get the biggest piece of the pie. It’s inherent in the system.