In 2009, Obama stole money from retired teachers and police officers in Indiana

During the Chrysler bankruptcy, Obama violated the Fifth Amendment and more than 150 years of bankruptcy law by illegally treating secured creditors worse than unsecured creditors. Some of these secured creditors were retired teachers and police officers from Indiana.

Richard A. Epstein, a law professor at New York University School of Law, wrote of this:

“Upsetting this fixed hierarchy among creditors is just an illegal taking of property from one group of creditors for the benefit of another, which should be struck down on both statutory and constitutional grounds.”

Todd Zywicki, Professor of Law at George Mason University School of Law, wrote that Obama’s treatment of secured creditors was…

“… dangerous to the rule of law.”

The Economist wrote that Obama’s actions could…

“… establish a terrible precedent. Bankruptcy exists to sort legal claims on assets. If it becomes a tool of social policy, who will then lend to struggling firms in which the government has a political interest?”

Francis Cianfrocca, the CEO of Bayshore Networks, wrote that Obama’s actions were…

“… an astonishingly reckless abrogation of contract law that will introduce a new level of uncertainty into business transactions at all levels, and make wealth generation more difficult going forward… An extraordinary uncertainty has been created when the most powerful man in the world can rewrite contracts and choose winners and losers in private negotiations as he sees fit. Since this is an unquantifiable uncertainty, and not a quantifiable risk, its effect on business and investor confidence will be large and unpredictable. As in the 1930s, a time when government also cavalierly rewrote private contracts, the prudent approach for business will be to invest minimally and wait for another administration.”

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February 16, 2015. Tags: , , , , , , , , , , , , , , , . Barack Obama, Politics.

34 Comments

  1. poetopoet replied:

    High crimes and Misdemeanors, just shot the bastard.

  2. EDell replied:

    Considering how well Chrysler is doing now, and for its creditors, how is this supposed to be any kind of a problem? Oh, right. There’s a black man in the White House.

    • danfromsquirrelhill replied:

      It’s a problem for the retired teachers and police officers whose money was stolen.

      It’s a problem for anyone whose ability to earn a living is dependent upon contracts being honored.

      Would you invest in something if you were not allowed to cash it in later on?

      Would you put money in a bank if you weren’t allowed to take it out?

      Would you give a loan to someone if you knew they weren’t going to pay it back?

      If people can’t trust contracts to be honored, then they will never enter into those contracts in the first place.

      Every single human being in the U.S. is worse off because of what Obama did, because it means that contracts are less secure.

      This has nothing to do with Obama’s skin color.

      • EDell replied:

        I don’t know if it’s escaped your notice to this day or not, but the Bush crash wiped out a lot of people, so what does it matter what Obama did? At least they got to keep some of what was left, otherwise if Chrysler had gone under along with GM, everybody would’ve been out, thanks to Bush. But you pick on Obama because, well, he’s a black man in the White House and that really rubs you the wrong way, while you give the Dan-approved white guy before him a blind pass.

      • poetopoet replied:

        You GD white/black bastard go to fucking hell, now!

      • danfromsquirrelhill replied:

        EDell

        Bush did not illegally treat secured creditors worse than unsecured ones. Obama did. What Obama did was illegal.

        Would you invest if you could never sell your investment?

        Would you put your money in a bank if you could never take it out?

        What is the point of signing contracts if those contracts are not going to be enforced?

        Skin color has nothing to do with any of this.

  3. elpaso1 replied:

    A Democrat President stealing from Democrat unions.

    And I should care about more than the irony, why???

    • poetopoet replied:

      Read it idiot.

      BEN STEIN: THE DEFINITION OF INSANITY

      “Fathom the hypocrisy of a government that requires every citizen to prove they are insured…….but not everyone must prove they are a citizen. And now, any of those who refuse, or are unable, to prove they are citizens will receive free insurance paid for by those who are forced to buy insurance because they are citizens.”

      If that is not simple enough for you in print form, everyone? If not GFY!

  4. 5warveteran replied:

    What really matters is what WE THE PEOPLE are going to do about it.

    • poetopoet replied:

      BEN STEIN: THE DEFINITION OF INSANITY

      “Fathom the hypocrisy of a government that requires every citizen to prove they are insured…….but not everyone must prove they are a citizen. And now, any of those who refuse, or are unable, to prove they are citizens will receive free insurance paid for by those who are forced to buy insurance because they are citizens.”

      If that is not simple enough for you in print form, everyone? If not GFY!

    • EDell replied:

      You’re going to do nothing about it. Americans have no fight in them when all they’re doing now is allowing themselves to be easily distracted by their laptops, tablets, iphones, XBoxes, bad TV and worse movies. There is no WE THE PEOPLE. The last time that happened was in the 60s with Civil Rights.

      • poetopoet replied:

        That was a black period, you can keep.

      • 5warveteran replied:

        Speak for yourself. I did not serve 22 years and nearly die twice for nothing. You have no clue what real Americans are doing or preparing to do.

      • poetopoet replied:

        You EDell are lowest form of life. Not, that you are dumb or something just released from the lab, you are perfection in what you are, the assumption of intelligence once formed in the ice age, earning a minim wage that keeps you alive.

        Please EDell, peddle your lies and inconsequential rants and Kabul somewhere else, then your mother may love you for not aborting you.

  5. EDell replied:

    poetopoet vomited:

    That was a black period, you can keep.

    ——

    Proof positive of a diseased mind.

    • poetopoet replied:

      One plague or another is going to get you, one way or another, and the sooner the better in your case history, leprosy would be a better choice of death.

      • EDell replied:

        And that somehow is supposed to scare me? You blather like a 6-year-old. Get real.

  6. EDell replied:

    5warveteran replied:

    Speak for yourself. I did not serve 22 years and nearly die twice for nothing. You have no clue what real Americans are doing or preparing to do.

    —–

    Then you tell me. Oh, but you can’t. Because you don’t have a clue yourself what Americans are doing or are preparing to do. Well? What are they doing, or preparing to do, that is clearly captured on the nightly news, even if it’s only on FOX News, for all of America to be aware of on a daily basis right now? What are WE THE PEOPLE Americans doing about their situation right now – whatever that indefinable “situation” is supposed to be for them to be wanting to do something about?

    • 5warveteran replied:

      Look rbodell you are a troll you troll here and you troll on all other sites. Why do you choose to create hate and discontent instead of adding to a conversation?
      Please provide something of value because your spam is not wanted anywhere.

      Dan you will find the avatar EDell has spammed nearly a dozen sites and he actually posted over 300 repetitive mailings on the DC Clothesline two days ago.

      I do not have the time to waste on spam in my inbox.

      • EDell replied:

        I find it funny that someone who claims to have seen 5 wars and faced death still cries like a little girl with soiled panties and just can’t take it whenever someone calls his bluff on what he thinks he knows. And I should sue whoever is besmirching my moniker elsewhere on the net. But that’s the net for ya, anybody can be anybody, or anybody else, on it. What, you actually believe someone with the same name is always the same person as someone else with the same name? John Smith anyone?

      • 5warveteran replied:

        You just fully confirmed you are rbodell. Thank you.

        DAN, the fellow posting as EDell above spams the entire DC Clothesline and word press blog system.
        He provided only hate and discontent. He also stalks me and it is my fault he came here when I mentioned your blog on the other sites.

        I apologize. I have a complete dossier on him and his activities if you are interested.

        As it is removing spammers is not something wordpress and DC Clothesline authors tend to do no matter how much hate and discontent they bring.

      • danfromsquirrelhill replied:

        5warveteran, there is no need for your to apologize, for you have not done anything wrong.

        You’re right – I never block anyone on this forum.

      • 5warveteran replied:

        Perhaps it is a time to start because the other blogs have lost people because of him. Many have spoken out about his spamming and trolling of time and yet they have not banned him for spam yet, Even after posting 300 messages less than a week ago.
        I can send a screen shot of them in my mailbox.

      • danfromsquirrelhill replied:

        He has disputed your claim that it is him. It is common for one person to be accused of using multiple handles on internet boards. Sometimes the accusation is true, and sometimes it is false. I do not plan on banning anyone. And if those 300 messages were on another board, it’s not under my power anyway.

      • 5warveteran replied:

        Oh we3ll i appreciate your work and c an prove my claim. Be that as it may I will check for updates on the big list from time to time.

      • danfromsquirrelhill replied:

        Perhaps your inbox lets you block messages with certain words in them.

      • 5warveteran replied:

        I use Thunderbird. . . If it does I have not figured out how.

      • danfromsquirrelhill replied:

        OK. Well, I don’t block or ban anyone here.

  7. EDell replied:

    poetopoet blustered:

    You EDell are lowest form of life. Not, that you are dumb or something just released from the lab, you are perfection in what you are, the assumption of intelligence once formed in the ice age, earning a minim wage that keeps you alive.

    ——

    Minim. Snicker.

  8. EDell replied:

    5warveteran bawled like a little girl who soiled her panties:

    You just fully confirmed you are rbodell. Thank you.

    DAN, the fellow posting as EDell above spams the entire DC Clothesline and word press blog system.
    He provided only hate and discontent. He also stalks me and it is my fault he came here when I mentioned your blog on the other sites.

    I apologize. I have a complete dossier on him and his activities if you are interested.

    ——-

    I’d be interest in that “complete dossier” myself, especially since rbodell is nothing like EDell, otherwise your stupid logic would believe that Jingle Bell and Taco Bell are one and the same. So come on, let’s see this “complete dossier.” In fact, post it right here so that I could make a mockery out of it and make you look stupider than you’re making yourself out to be already.

  9. EDell replied:

    danfromsquirrelhill extolled:

    5warveteran, there is no need for your to apologize, for you have not done anything wrong.

    You’re right – I never block anyone on this forum.

    ——

    Which is actually unusual for anyone on the right to do and for that, you should be commended. Neither would I block anyone, unless there was unrestrained use of profanities, obscenities or vulgarities, especially if it had nothing to do with any topic discussed. But then you have someone like 5warvet who wants to block anyone and everyone who goes against his unsupported claims and then, unsupported, claims that someone named EDell is the same someone named rbodell. Maybe anyone named Harry is the same person as the one named Larry. Is this what he supposedly fought for?

    • danfromsquirrelhill replied:

      Thanks.

      • poetopoet replied:

        by PAM KEY

        On November 21, 2007, then presidential candidate, Sen. Barack Obama (D-IL), appeared on New Hampshire Public Radio and said his being “intimately concerned” with Muslim countries’ futures, coupled with his deep “understand their point of view,” will “ultimately make us safer.”

        Partial transcript as follows:

        OBAMA: Well, I truly believe that the day I’m inaugurated, not only does the country look at itself differently, but the world looks at America differently. If I’m reaching out to the Muslim world, they understand that I’ve lived in a Muslim country, and I may be a Christian, but I also understand their point of view.

        HOST: Although you were a little kid when you lived in Indonesia, right? Is that what you’re talking about?

        OBAMA: Well, it’s not just that. My sister is half-Indonesian. I traveled there all the way through my college years. And so I’m intimately concerned with what happens in these countries and the cultures and perspectives that these folks have. And those are powerful tools for us to be able to reach out to the world, and when you combine that with my work on the Senate Foreign Relations Committee, on everything from nuclear proliferation to issues of genocide, then I think that the world will have confidence that I am listening to them and that our future and our security is tied up with our ability to work with other countries in the world. That will ultimately make us safer.

      • poetopoet replied:

        poetopoet replied: THANKS! The Fucking Bastard is another Obama, a born liar!

        “You GD white/black bastard go to fucking hell, now!”

        February 16, 2015 at 10:37 pm. Permalink.

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