Chrysler Sr. Debtor hold-outs cave

You can't fight city hall. oh well.

I feel and think the American way I grew up in or thought I did has gone.

What I see now is a majority wanting the federal government to handle most of the problems for them.

Agreed

Thats a big part of the problem. What is 'fair' none of them should have been bailed out. Companies that can not compete, can not make money should NOT exist. Just because they have been around for decades, does not mean they should be around forever. Fairness is not having my money go to bail out failures.

Time for a 3rd party babby!

lol...I was thinking the same thing.

My Jeep just hit 195,000 miles.  I've had to replace the A/C Compressor and the raidiator....and the other basics like tires, brakes, etc.

I LOVE my jeep, and once this one finally dies (which I'm hoping won't be for another 100K miles), I will buy another.

Back to the original post:

I think it's scary when you have the government changing rules on you whenever they feel like it....and trying to strong-arm companies into doing what they want.  Equally scary is the media making a crisis out of everything. 

I thought the big bash on the Bush Administration was that they were "fear mongers".  I've heard nothing but threats and scare tactics from the new president and his people.

Is anyone at all troubled by the governments heavy handidness in this process, aside from their use of tax dollars to bail out a failing company? And by that I mean the degree to which this administration has, through its use of the bailout money foisted upon some debt holders, bought leverage over the outcome of a process to the benefit of one party over another, going against established law, and in the favor of an obvious constituency?

In effect, the govt. used the influence it gained with the bank bailout money to pressure enough of Chrysler's senior debt holders (including those who received govt. bailout money) to accept terms of a bankruptcy that placed certain creditor's rights (Union healthcare fund) ahead of others (those financial institutions who did NOT accept/need bailout funds) and thereby reducing the amount of recovery these other financial institutions would receive in the bankruptcy and below which might otherwise have occured if the govt. HADN'T interfered. It's important to note that these "other" financial institutions may be representing the interests of YOUR money if you chose to invest it in a mutual fund run by one them, or in a pension fund your company established, as examples - it's not the evil "hedge funds" or "greedy investors", it's you and I. The govt got to decide "winners and losers" based mostly on political paybacks and emotions (empathy), using YOUR tax dollars, rather than rule of law that dates back to the '30's.

It sickens me because it will happen again (GM), I believe it to be a usurpation of power not intended, that enough people probably think its OK because of the current environment of populist rage, and that they further believe that its OK because its "screwing the rich" and giving to the more deserved.

I'll never buy a GM or Chrysler related product just on principal of the bailouts.

Several months ago, I got an e-mail from Ford asking me to contact my legislator to ask them to support the Union Auto Maker Bailout. I Contacted all of my representatives and let them know what I thought of it I also sent Ford a letter thanking them for encourageing me to contact them and told them that I urged them NOT to fund the bailout and that I would not purchase a Ford as well. I'm just guessing but with them saying they did not want/need the bailout, I was just one of many that they heard from with a similar view.

Your voice does count, contact your representatives early and often.