Chrysler lenders give in on restructuring

[EmptyTimCup]

Chrysler lenders give in on restructuring

The hold-out lenders charged that Mr. Obama, who had called them "speculators" and questioned their patriotism as well as blamed them for the bankruptcy, used undue political pressure, even though they were pursuing their legal rights in bankruptcy court, where the claims of such secured lenders normally prevail.

"After a great deal of soul-searching and quite frankly agony, they concluded they just don't have critical mass to withstand the enormous pressure and machinery of the U.S. government," said Thomas Lauria, the group's lead attorney.

Stand against "The Messiah" and have your patriotism questioned

The White House made further incursions against the group earlier this week when it persuaded the Manhattan, N.Y., bankruptcy court led by Judge Arthur Gonzalez to force the secretive hedge funds and other investors in the holdout to disclose their identities in court - a tactic that led many to withdraw from the challenge rather than expose their wealthy clients to political criticism and public scrutiny.

Gee I wonder if ACORN would have bussed more in to protest in front of their houses ....