Obama Administration Attacks Chrysler Bond Holders

The Obama administration noted that the Chrysler bondholders should have caved for the good of the country.

"He described these "holdouts" as unwilling to make the sacrifices that the company, the banks, the workers, the pensioners (all on the government dole) and the taxpayers had been prepared to make for the good of the country." according to a New york Post article, Funds Hoodwinked.

Chrysler Lenders "Threatened by White House": Attorney @ Todd Sulivan's Valueplays

Nationalization of Banks by the Obama Administration

• The New York Times reports the government is contemplating converting some of the bailout funds into equity shares of banks.

• The Financial Times published an article today noting the Obama administration is considering changing repayment terms of TARP. The article notes:
  

• banks that had plenty of capital and had demonstrated an ability to raise fresh capital from the market should in principle be able to repay government funds. But the judgment would be made in the context of the wider economic interest. He said the government had three basic tests. It needed first to “make sure the system is stable”. Second, to not create “incentives for more deleveraging which would deepen the recession”. Third, to make sure the system had enough capital to “provide credit to support the recovery”.

Government Exerting Control Over Companies

• Pennsylvania, Rendell and Johnson & Johnson-(Wall Street Journal)

• The government backs your warranty! (Townhall.com)

• Government will dictate GM board (Washington Post)

• Stimulus for Tiger Stadium? (American Thinker)

• Democrats target the internet. (American Thinker)

• IRS Questions Pay of Charity Executives (Wall Street Journal)

• Is Rand Relevant? (Ayn Rand Center)
  

• Government refuses TARP repayments (Wall Street Journal)