Obama Throws Plaintiffs and Trial Lawyers Under the Bus

[guido911]

GM and Chrysler's bankruptcies apparently will render them immune from civil actions such as defective product/manufacturer's products liability claims by injury victims.

http://abcnews.go.com/Business/story?id=8016340&page=1

CF's head again to explode in 3..2..1

[Townsend]

GM and Chrysler's bankruptcies apparently will render them immune from civil actions such as defective product/manufacturer's products liability claims by injury victims.

http://abcnews.go.com/Business/story?id=8016340&page=1

CF's head again to explode in 3..2..1

How's Obama reponsible?

If they'd been allowed to go away there would still be the same problem.

If the lawsuits were covered by the new companies then you'd Hündin about the wealthy tax payers having to pay for it.

Which way do you want it?

[guido911]

How's Obama reponsible?

If they'd been allowed to go away there would still be the same problem.

If the lawsuits were covered by the new companies then you'd Hündin about the wealthy tax payers having to pay for it.

Which way do you want it?

Barry is the CEO of GM that fired the former CEO. His government backed the bankruptcy plan which gave all sorts of benefits to his constituents (unions) and crammed down secured creditors to the point where they get far less than the unsecured union members. Had this been a real Chapter 7 liquidation, plaintiffs would have been given a place in line (unsecured creditor status just like the unions were supposed to be) and might have gotten something. It is impossible to know, so to that extent I agree with your first point. 

[cannon_fodder]

1) I am getting immune from government regulations, rules and laws screwing over citizens.  Cap awards,  limit what citizens can pay for attorneys, or put restrictions on causes of actions making them nearly impossible.  Nothing new here.  Another governmental act that takes rights away from citizens.

2) I do not know enough about the bankruptcy to be critical on an intelligent level.  But it seems odd to me that they will split the company into "good assets" that will be given back to the company and "bad assets" that the creditors will have to split.  If I declare bankruptcy can I keep my sailboat, fishing boat, and expensive jewelry and just tender some junk from my shed to my creditors?

How about Semgroup?  Can they spin off all their profitable divisions and just have the trading divisions assets available to creditors?  it would be great for Tulsa and a lot of Tulsa jobs if they could . . . but i guess we don't have the pull Detroit does.

Again - not familiar with the details of the bankruptcy, but it seems someone is getting screwed.

[shadows]

CF;  No follow the practice used by the William Brothers and keep your good stuff and just delete your creditors equity.  Them if you have any buildings or air craft just call the mayor action center and they will issue revenue bonds at a above market interest levels and relieve you of  any albatrosses that continue to hang around your neck.

[Breadburner]

CF;  No follow the practice used by the William Brothers and keep your good stuff and just delete your creditors equity.  Them if you have any buildings or air craft just call the mayor action center and they will issue revenue bonds at a above market interest levels and relieve you of  any albatrosses that continue to hang around your neck.

Your first post that is coherent and makes sense...Good work.....