youtube.com - 10/26/2009
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Driving in the Wrong Direction: The Sordid Details and Lasting Consequences of the Bush/Obama Auto Industry Interventionhttp://www.cato.org/event.php?eventid...
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The Real Story Behind the Chrysler Bankruptcy
Cato @ Liberty —
If you worry about the abuse of executive power and declining respect among elected officials for the rule of law, you should watch this eloquent illumination of what really went down in the Chrysler bankruptcy earlier this year. The speaker is Richard Mourdock, Treasurer of the state of Indiana. The setting is a Cato Institute policy forum on October 15 about the “sordid details of the Bush/Obama auto industry intervention.”
As state treasurer, Mourdock is the person responsible for investment decisions concerning Indiana’s state employee pension funds, some of which owned a small share of Chrysler’s $6.9 billion in secured debt and some of which ...
Government Strongarm Tactics in the Chrysler Bankrupcy
Coyote Blog —
This is an interesting video from the State Treasurer of Indiana about his state’s experience as a secured creditor of Chrysler, and how their legal claims were pushed aside as the Administration moved more politically-favored constituencies (e.g the UAW) ahead of the secured creditors in line.
One side issue here. Early in the video he explains that the State of Indiana held a lot of Chrysler bonds because Chrysler is a big employer and they try to support companies with a big footprint in the state.
Isn’t that terrible risk management policy, closely akin to Enron employees putting all of ...
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