The bankruptcy signals that Obama is prepared to play hardball with holdout lenders rather than knuckle under to their demands and will likely set the tone for similar discussions with bondholders of General Motors Corp — which is now on the clock to restructure its operations by the end of May.
While Obama voiced his support for Chrysler and the deal with Fiat, he was pointed in his criticism of the investors who did not agree to this deal.
“I don’t stand with them. I stand with Chrysler’s employees and their families and communities,” the president said. “I don’t stand with those who held out when everybody else is making sacrifices. That’s why I’m supporting Chrysler’s plans to use our bankruptcy laws to clear away its remaining obligations.”
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- With a light stand, Mannequin head and two hipsters; for obvious reasons http://tinyurl.com/dxu2mo #
- iPhone charging…. did you see the picture of the scar I got last year? http://www.flickr.com/photos/nitemayr/3486864834/ #
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- Asshole short code: “Kids these days are too” If you start a sentence with this phrase; you are an asshole. #
- Yeah, this is helping to portray Islam as the religion of peace:: http://www.timesonline.co.uk/tol/news/world/europe/article6194815.ece #
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- Sweet Jesus; you never go full dwarf! http://tinyurl.com/c2jnap #
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