May 04, 2009

The Heavy Hand of the White House

From Michelle: First lienholders will not give more than fifty percent and that is not good enough. Apparently, the Administration is not familiar with the absolute priority rule.

Posted by LMC at May 4, 2009 07:20 PM | TrackBack

I think a small bankruptcy seminar is order for those us unfamiliar with the "insolvency arts". Can LMC, Robbo or the learned among us edumicate the great unwashed?

Posted by: kmr at May 5, 2009 05:58 AM

Rules? We don't need no stinkin rules and we really don't need no priority rules. We won!

Posted by: babs at May 5, 2009 11:47 AM

I like how this thing may be a violation of the 5th Amendment. Apparently "restoring the Constitution" means gutting it entirely.

Posted by: rbj at May 5, 2009 01:43 PM