One of the biggest problems with the economy right now is that there’s been a credit freeze and lenders are reluctant to lend money. So the government got involved and started throwing money at the lenders to get them to start lending again.
But now Obama is bullying lenders into not collecting money they’re owed by Chrysler. Obama’s goons are even threatening the creditors to sic the White House press corps on them.
What effect does the White House think this bullying will have on lenders? If the government can come in and threaten companies not to recoup on the debts, won’t that only make lenders even more reluctant to loan money?
Once the government has the ability to step in and void a valid contract, doesn’t that send a chill through the entire system?