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| Posted by | Message | udtiger 
LSU Fan
Louisiana
Member since Nov 2006
18395 posts
 Online
| If there is a God in Heaven...this will happen (GM on the brink?) (Posted on 12/6/12 at 2:44 pm)
LINK /
quote:
A New York federal judge may rule imminently on a case that could reverse the General Motors (GM) bailout and send the company back into bankruptcy, according to sources close to the case.
At issue is a backroom deal hatched by GM to fulfill the Obama administration’s demand for a quick bankruptcy, draining the automaker of nearly all of its cash on hand and leaving it in worse shape than it was when it collapsed in 2009.
Hopefully, the union pension scheme hatched by Geithner (which fricked over all of GM's non-union employees [all management]) will get shitcanned as well.
| | Back to top | Share on  | TheHiddenFlask 
Clemson Fan
The Welsh red light district
Member since Jul 2008
16420 posts
| re: If there is a God in Heaven...this will happen (GM on the brink?) (Posted on 12/6/12 at 3:14 pm to udtiger)
This would make me truly giddy with Joy.
However, I doubt that a NY judge would be decent (read: unliberal) enough to have the balls to do the right thing and reverse it.
| | Back to top | | GumboPot
LSU Fan
Saints Fan
Member since Mar 2009
17706 posts
Online
| re: If there is a God in Heaven...this will happen (GM on the brink?) (Posted on 12/6/12 at 3:20 pm to TheHiddenFlask)
quote:
NY judge
The guy is just setting up a pay off scheme. He would never rule to send GM back into bk. He'd wind up dead in some ditch if he ruled against Obama and GM.
| | Back to top | | Poodlebrain
LSU Fan
Way Right of Rex
Member since Jan 2004
12904 posts
| re: If there is a God in Heaven...this will happen (GM on the brink?) (Posted on 12/6/12 at 3:32 pm to TheHiddenFlask)
This guy will be in the legal history books over this case. He wants to protect his reputation and legacy. If he determines his prior decision was based on incomeplete information that was deliberately withheld from him, and it resulted in a clearly improper application of the laws, then I think there is a damn good chance he will want to make sure to remedy the situation and see that the laws are properly applied.
| | Back to top | | Malik Agar 
USA Fan
Member since Nov 2012
260 posts
| re: If there is a God in Heaven...this will happen (GM on the brink?) (Posted on 12/6/12 at 4:23 pm to TheHiddenFlask)
quote:
However, I doubt that a NY judge would be decent (read: unliberal) enough to have the balls to do the right thing and reverse it.
He's a federal judge. He doesn't have to deal with voters/accountability even being in NY.
| | Back to top | | Cold Pizza 
Ohio State Fan
Member since Sep 2011
7639 posts
| re: If there is a God in Heaven...this will happen (GM on the brink?) (Posted on 12/6/12 at 4:45 pm to udtiger)
quote:
“When I approved the sale agreement and entered the sale approval order I mistakenly thought that I was merely saving GM, the supply chain, and about a million jobs. It never once occurred to me, and nobody bothered to disclose, that amongst all of the assigned contracts was this lock-up agreement, if indeed it was assigned at all,” Gerber said in July.
WTF?! He had to sign it to see what's in it?
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