WH Bashes Chrysler Debtholders who refuse to take a bath as Bankruptcy Looms….

talk about laying it on thick, now they are hanging the bondholders out to dry at the WH:

WH Admin Official stmt:CNBC: On “holdout: lenders ie folks who would rather go to bankruptcy court and try to get some of their money back:

“Their failure to act in either their own economic interests or the national interest does not diminish the accomplishments made by Chrysler, Fiat and its stakeholders nor will it impede the new opportunity Chrysler now has to restructure and emerge stronger going forward…”

Wow, this Admin really can’t stand not getting its way Imagine the statement we will get when the GM bondholders refuse to take a bath while the UAW and Government walks away with control of the ‘new’ company…that bold line reminds me of how they bash us for going to Tea Parties and say we dont understand they gave us a tax cut, BWAAAAHAAA, we get it folks we really do and we do know our own economic interests and so do these hedge funds..and Team Obama aint it….

Fiat has been waiting for bankruptcy so it can buy up the Chrysler assets cheap..This is what Ch 11 is for..maybe Team Obama doesn;t realize that

Maybe the CAR CZAR RATtner should have actually made an effort for the bondholders…

Anyway IMO further evidence of immaturity and a lack of understanding of the American economic system and our bankruptcy courts.

Why the hexx would the hedge funds who gave Chrysler all this money walk away with nothing? Talke it to bankruptcy, that was the deal when they gave the money to them, that’s how it works when you play with the big boys..

See I think problem is Team Obama has NO leverage on the hedge funds at all. They dont control them like the banks they bullied into eating debt yesterday…heh…

And BTW thes ehedge funds are the very same people Team Obama needs to participate in PPIP, good luck with that the way they continuously bash them….