Obama's mask slips during Chrysler Talks

[ourlongroad]

I'd say we are outgunned.

They can't win a military style war against this population, and they know that. Anyway, the social controls works so well who needs weapons anyway?

 

[Cowlesy]

Im sure Cerberus investors are quite pleased that they get to pocket up to $8 billion in taxpayer money before they file for bankruptcy. Only the company has to liquidate or restructure. They get to keep the cash. Theft on a grand scale.

Cerberus had an equity investment which is now worth zero. They also had some second lien debt, which Obama is asking them to write-off I believe.

If Cerberus doesn't fight Obama in court, they're breaching their fiduciary responsibility to their investors, and should no longer manage money.

At this point, Cerberus' investment return is 0%. They're not getting a dime, but maybe some nickels on that tranche of debt if they fight in bankruptcy court.

Don't demonize the wrong guys here.

 

[acptulsa]

If Cerberus doesn't fight Obama in court, they're breaching their fiduciary responsibility to their investors, and should no longer manage money.

Don't demonize the wrong guys here.

You certainly do have a point. But in my mind, they breached their fiduciary responsibility to their investors the moment they took Chrysler over--not so much because it was in the shape it was in, but because they had no plan to revive it, no one fit to run it (Robert Nardelli the Butcher of Home Depot?!! ) and no particular interest in doing anything for it. Therefore, their takeover was patently irresponsible in and of itself as it ensured that their investment would not be enhanced one iota.

 

[devil21]

Cerberus had an equity investment which is now worth zero. They also had some second lien debt, which Obama is asking them to write-off I believe.

If Cerberus doesn't fight Obama in court, they're breaching their fiduciary responsibility to their investors, and should no longer manage money.

At this point, Cerberus' investment return is 0%. They're not getting a dime, but maybe some nickels on that tranche of debt if they fight in bankruptcy court.

Don't demonize the wrong guys here.

That may be true but what I don't get, and doesn't "jive" with the whole Chrysler deal, is that Cerberus owns numerous profitable businesses. THeir portfolio is quite successful. So why would Cerberus need gov't money in the first place to keep afloat a failing business while they are already running profitable businesses? Why wasn't Cerberus' money being injected into Chrysler instead of yours and mine? If you look at it that way, Cerberus profited by simply being able to pocket the money they would have had to spend to keep Chrysler alive. To me thats the same thing as them pocketing the taxpayer's "loan" money. Cerberus never lost a dime and even now is getting the big chunk of money to keep Chrysler operating during bankruptcy. Cerberus HAS money. Why isn't it being used?

 

[acptulsa]

It isn't about building. It's about stealing. Don't you read Dilbert?

 

[s35wf]

Cerberus HAS money. Why isn't it being used?

traditional business motive operandi "OPM" other peoples money

 

[acptulsa]

traditional business motive operandi "OPM" other peoples money

This really isn't the American tradition. This is the Morgan tradition, yes. And it has spread.

No wonder this nation is headed down the crapper. We so desperately need to get back to our fundamentals.