Date registered: Sep 2004
Vehicle: 2014 E250 Bluetec 4-Matic, 1983 240D 4-Speed
Mentioned: 2 Post(s)
Quoted: 256 Post(s)
What aspect of the President's speech, and quotes is not true or amounts to bullying?
I think the President did a fine job of summing up who brought about the final step into bankruptcy for Chrysler and why. It was a game of chicken, as it sounds, and the lawyer's clients, not singled out by name but cited as a group with a common interest, found themselves holding an empty bag when the dust settled. If anything it was the judgement they displayed that brought doubts about their reputations as fund managers, if that has happened, and I hope it has.
Faced with a final offer of $0.29 on the dollar of their investment they held out thinking the President did not have the balls to step away from the bailout check writing counter and let Chrysler go down. Now the people in charge of those investment portfolios have to deal with that $0.29 going to zero. If that pisses their present clients off, and damages their reputation with potential future clients, I think the problem lies in the fund manager's poor judgement, and they "earned it, the old fashioned way."