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HomeAdams, Obama, and Asness on The Rule of Law
Posted by Larry Doyle on June 14th, 2011 8:34 AM |
“We are a nation of laws and not of men.”
The above quote is widely credited to the second President of our great land, John Adams.
The life story of Adams is captured in a best selling book, “John Adams” written by David McCullough. The book garnered rave reviews and has served as a written historical monument to one of our nation’s founding fathers.
Adams may have been overshadowed by many of the other giants of his era, including Washington and Jefferson, but his measure has certainly stood the test of time.
In addition to the above referenced quote, McCullough highlights early in his book a statement Adams made to his bride Abigail.
“We live, my dear soul, in an age of trial. What will be the consequence, I know not.” (1774) (more…)
Is Barack Obama Going Tony Soprano? UPDATE>>
Posted by Larry Doyle on May 2nd, 2009 11:07 AM |
“One of my clients was directly threatened by the White House.”
That’s a quote, folks, from a lawyer representing firms which lent Chrysler money on behalf of their clients, including pension funds, teachers, labor unions, college endowments, et al.
Threatening creditors may be common practice in the underworld. In the world of business and politics, commonly accepted rules of law, business practices and ethics are widely accepted and adjudicated by the courts to prevent abuse. Did the White House just abuse the Constitution in the process of engaging Chrysler’s non-TARP creditors? Tom Lauria, an attorney with White & Case representing a few non-TARP Chrysler creditors, believes the White House did exactly that.
The 10 minute interview (link provided at end of story) that Lauria gave yesterday morning to Detroit radio station WJR’s Frank Beckmann is a MUST LISTEN. (UPDATE: We now have a YouTube audio of the Frank Beckmann-Tom Lauria radio interview. THANK YOU Paul V!!)
Lauria offers, “I represent one less investor today than I represented yesterday. One of my clients was directly threatened by the White House and in essence compelled to withdraw its opposition to the deal under the threat that the full force of the White House press corps would destroy its reputation.”
Wow!!! Is the press corps so in bed with the White House that it will do its dirty work? Will other creditors fall in line under the pressure of this threat? Is Lauria’s analysis credible?
I believe the answer to all of these questions is yes!!
In my April 2009 Market Review: Brave New World I wrote:
Companies, consumers, and investors will be forced to adapt to a regular presence of Uncle Sam. He is not a good business partner.
Our economic landscape just entered a whole new realm. I strongly recommend that you listen to the audio recording of Frank Beckmann’s interview with Tom Lauria (special thanks to Daisyjane for the link).
UPDATE: Here’s the YouTube audio so you don’t have to leave this site. Thank you, again, to Paul.
LD
See also: “White House uses strong arm tactics to extort concessions from lenders,” via Memeorandum.com.
