President Obama’s Auto Industry Task Force is fighting off accusations of bullying the Chrysler shareholders and creditors into accepting the government’s bankruptcy plan. In the center of the storm is Steve Rattner, the task force’s leader with close ties to the Democratic Party. According to Thomas Lauria, the bankruptcy attorney representing the hedge funds and money managers, the administration threatened to use the White House press corp to ruin his firm’s reputation if he doesn’t go along with the White House plan for the troubled automaker.
These are only allegations and who knows what the real story is. However, personally I will not be surprised if Lauria is telling the truth. Why? Because since Obama’s campaign, he’s made to be invincible with the help of the media. Once he got elected along with the House and Senate being Democrat-controlled, I’m sure he feels he is unstoppable. That’s how this administration sees itself. Look at how the TARP bills were passed without proper scrutiny. Look at how the White House is picking CEOs to run companies. Look at how a tax cheat gets to become Treasury Secretary and shows no sign of grasping the economic crisis.
Remember, too much power always corrupts. Are we starting to see the beginning of abuse and misuse of the federal government?
