[speechlesstx]

I mentioned yesterday allegations of the White House intimidating Chrysler investors with threatening to sic the White House press corps on them if they didn't acquiesce to Obama's demands.

Turns out others are coming forward with allegations of their strong arm tactics:

Creditors to Chrysler describe negotiations with the company and the Obama administration as "a farce," saying the administration was bent on forcing their hands using hardball tactics and threats.

Conversations with administration officials left them expecting that they would be politically targeted, two participants in the negotiations said.

Although the focus has so been on allegations that the White House threatened Perella Weinberg, sources familiar with the matter say that other firms felt they were threatened as well. None of the sources would agree to speak except on the condition of anonymity, citing fear of political repercussions.

The sources, who represent creditors to Chrysler, say they were taken aback by the hardball tactics that the Obama administration employed to cajole them into acquiescing to plans to restructure Chrysler. One person described the administration as the most shocking "end justifies the means" group they have ever encountered. Another characterized Obama was "the most dangerous smooth talker on the planet- and I knew Kissinger." Both were voters for Obama in the last election.

One participant in negotiations said that the administration's tactic was to present what one described as a "madman theory of the presidency" in which the President is someone to be feared because he was willing to do anything to get his way. The person said this threat was taken very seriously by his firm.

Isn't that reassuring, we're in the hands of a madman willing to do anything to get his way.

[lala55555]

OBAMA= OneBigA$$MistakeAmerika

[tomder55]

The bankruptsy judge here in NY slapped down the secured creditors further yesterday . Judge Arthur Gonzalez ruled yesterday that they had until 10 AM today to reveal their names . These folks are afraid for their lives and their families because they remember the level of hatred that Obama and his cronies in Congress whipped up directed at the AIG people .They think their lives are in danger and at very least their business will suffer under the attack being waged by the administration. He has already vilified them even though under traditional bankruptsy rules they would be entitled to be 1st in line for compensation as majority secured credit holders.

But that's empathy for you .

Chrysler Creditors Lose Fight For Secrecy - Forbes.com

[speechlesstx]

But that's empathy for you .

Somehow in the warped minds of some I think they honestly believe that really is empathy.

[speechlesstx]

More "madman" governance by Obama:

BofA And Citi Given 30 Days To Fire Their CEOs

The results of the stress test are due to be released at 5:00 PM to ensure minimum news cycle impact, and the Feds have released a statement on what to expect. By this point, there's been so much leaking and throat clearing, it almost seems like an old story at this point.

The pre-announcement reminds people that this is not a solvency test -- they really like to hammer that home -- and that the point of building up a capital buffer is not to ensure their survival, but to ensure that the banks will lend and support the economy.

(Check out the CEO Graveyard of bosses who've been blown out by the financial crisis.)

As has been leaked (of course) the banks will have 30 days to come up with a plan once the results are made public.

One very interesting note, which David Zaring picked up on, is that in this 30 day period "...firms will need to review their existing management and Board in order to assure that the leadership of the firm has sufficient expertise and ability to manage the risks presented by the current economic environment."

In other words, if you're on the least-favored CEO list -- we're looking at you Citigroup CEO Vikram Pandit and Bank of America (BAC) CEO Ken Lewis -- it's time to start talking about succession, planning for the future and resignation.

Not that some of these guys shouldn't go, I'm just wondering when some of you faithful Obama supporters are going to let go of your hatred for the Bush "regime" and wake up to what the Obama "regime" is doing.

[speechlesstx]

The madman president is at it again. The Obama administration has threatened to rescind $6.8 billion in stimulus money if California doesn't bow to Obama's demand to restore a $2.00/hr cut to unionized home health care workers. The union balked and Obama obliged.

Reporting from Sacramento -- The Obama administration is threatening to rescind billions of dollars in federal stimulus money if Gov. Arnold Schwarzenegger and state lawmakers do not restore wage cuts to unionized home healthcare workers approved in February as part of the budget.

Schwarzenegger's office was advised this week by federal health officials that the wage reduction, which will save California $74 million, violates provisions of the American Recovery and Reinvestment Act. Failure to revoke the scheduled wage cut before it takes effect July 1 could cost California $6.8 billion in stimulus money, according to state officials.

The news comes as state lawmakers are already facing a severe cash crisis, with the state at risk of running out of money in July.

The wages at issue involve workers who care for some 440,000 low-income disabled and elderly Californians. The workers, who collectively contribute millions of dollars in dues each month to the influential Service Employees International Union and the United Domestic Workers, will see the state's contribution to their wages cut from a maximum of $12.10 per hour to a maximum of $10.10.

The SEIU said in a statement that it had asked the Obama administration for the ruling.

Never mind that California is beyond broke, got to keep those unions happy or Obama is going to twist the screws deeper. Is it any wonder some GOP governor's rejected some of the stimulus money?

[tomder55]

When Benedict Arnold makes marijuana legal like he has proposed in desperation the State will not need that stimulus faustian bargain because they will have found their pot of gold.

Except by all reconning the best estimate numbers on the revenue generated would not add up to years of state reckless spending . ($1.3 billion as opposed to $40 billion without factoring in the human costs)

Compare that to oh lets say the revenue California could generate from drilling for off shore oil and gas... (known reserves are 10 billion barrels of oil and up to 20 trillion cubic feet of natural gas)... which would generate jobs for a State that is now in double digit unemployment .