BTW - anyone notice how Obama has set up the expectations on the Chrysler bankruptcy?

“Quick and surgical” can really only happen if you have worked out a deal with your creditors before walking in to file for protection.

But that “deal” didn’t happen, which is why they filed.

So there are 2 possibilities I see - 1) Obama is ignorant of the BK process, as are all of his aids and supporters and the UAW itself, or 2) this is a set up for gaming/creating a political backlash when the BK takes longer than the “30-60” days that Obama stated.

I take 2.

He already has singled out “those” who did not “cooperate” for criticism today.

“Those” would be the senior debt holders (eg the first in line to get paid in bankruptcy) who were not willing to give away their property to the UAW. So now Obama will try to get a bankruptcy court to do it. If these bond holders actually ask for the due process that they are entitled to under the constitution and actually ask the judge to give them their fair share under the law, Obama will demonize them as being “selfish” and not “cooperative” and standing in the way of protecting jobs.

So Obama will end up “shredding the Constitution” and “trampling on liberties” when viewed from the perspective of a property owner (Bush did it to suspected terrorists - now we know that property owners pose a greater threat)

I have to hand it to him and Axelrod - they game these things out and exploit them to maximum political advantage. This is how America will get a brand new economy imported from France.