Thursday, April 30, 2009

Greed & Central Authority

It is clear that some in the financial community just don't give a shit about the American economy in gneral & working Americans in particular. The inability of 46 hedge funds to understand the need to keep 54,000 people working in Michigan says to me anyway, that the financiers are more interested in getting more public money than they are in being patriotic. What a pathetic situation. The federal government should just have said, "...tough shit morons....", here's a fair amount of money, if you want it, fine, if you don't, who cares. The need to save 54,000 mitigates any need to compromise with the Mr. Potters of the country. Come on, President Obama, do the right thing.
Talks between Chrysler LLC's lenders and the Treasury Department to reduce the automaker's $6.9 billion in secured debt and keep it out of bankruptcy protection have disintegrated, a person familiar with the talks said early Thursday.


But several of the funds came back with their own different counterproposals, leaving the Treasury Department to bargain with 46 funds, the person said. Treasury extended the deadline into the evening, but when it appeared there was no central authority to negotiate with, decided to end talks around midnight.

I wonder if this sort of action isn't actually part of the ReThugs plan to thwart any & all positive proposals to get the country going again? It wouldn't surprise me if the 46 hedge fund chiefs had a bonding experience at some spa with Karl Rove. It hardly matters, I suppose, Chrysler is now headed for bankruptcy, maybe toward extinction. The market speaks again. My emphases.

1 comment:

coldH2O said...

I deleted a comment for the following reason: It was just too damn long. The point(s) that "anonymous" was trying to make frequently got lost in the incredible amount of words he/she used. If you the commenter who left the too long comment would like to condense your thoughts into a paragraph of so, then I'll probably leave it alone.