Originally Posted by Villages Kahuna

I don't know, Bucco. I think George Will is being extremely polite in describing the situation as only a "tincture". I always thought that that word meant a slight cast or taint. Trampling on the rights of lenders and forcing them with threats to abandon their claims before proper adjudication under the rule of law is a whole lot more than a tincture methinks.

I'm glad that at least one well-known, nationally syndicated columnist has addressed this issue. Other than Will's article, the only other that I've read is the one in last week's Economist.



There will be more and more troubled companies and threatened employees who will look to Washington for a bailout, based on the terrible precedents already set. Here's another one from this week's Hartmarx bankruptcy...

http://socialistworker.org/2009/05/1...-threaten-occu

No single elected official, from either party, will ever do everything that I agree with. What did President Reagan say, something like 80% is a good thing? But in this case, the administration's trampling of lender's legal rights and forcing them to abandon their claims before proper adjudication is a pretty serious transgression.

I like a lot of the things that President Obama has done thus far. But the precedents that have been set with regard to the banks and their legal rights has caused my to declare...STRIKE ONE!