Did the White House threaten a Chrysler creditor who refused to sign on to the rescue plan brokered by the government? That’s the charge levelled on Friday by a lawyer for the holdout creditors. In an interview with a Detroit radio station, attorney Thomas Lauria said that the investment firm Perella Weinberg Partners dropped its opposition to the plan after it “was directly threatened by the White House and in essence compelled to withdraw its opposition to the deal under threat that the full force of the White House press …
The news of another auto bailout was met with a whimper last week. Surely, the little noticed request for an additional $22 billion was partly overlooked because $22 billion just doesn’t seem like a large amount of money after President Obama spent $787 billion of your borrowed dollars the week before. But the fact remains that many questions remain unanswered by Detroit, and unasked by Capitol Hill. For example: How much money is the Federal Government committing to GM and Chrysler? With the $39.4 billion in loans to GM and …
