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Brokedown Palace: The Undermining of Property Rights in America
- Text size
Zero Hedge
October 18, 2009
- A d v e r t i s e m e n t
The battlefield: CDOs, mortgages, corporate debt
The players: hedge funds, management teams, elected officials, lobbyists, unions
The weapons: loopholes, new precedents, bankruptcy court, political pressure
The Chrysler debacle was stink enough, but the trend of collateral tampering is an outright stench today. Property rights have allowed the U.S. to flourish. They are bedrock of our economy. They allow facilitate the spread of credit and economic growth that some other countries cannot match.
In Chrysler we saw legal precedent created where a *secured creditor* received less on its contracted collateral than unsecured creditors. In one fell swoop, we saw fiduciaries abscond, “disinterested” advisors incented to rubber-stamp, and the Courts join in on the rubber stamping party (more on this later). Most importantly, we witnessed a government that not only sanctioned this egregious behavior but astonishingly pushed for it. The Government actually labeled those who filed objections to the deal as “terrorists” (you can’t make this up). The Government actually vetoed Chrysler’s offer to give secured creditors additional consideration. Our lawmakers were so involved that Chrysler’s own attorneys tried to block discovery of their communications with Washington (the attorney’s clients were Chrysler, not Washington). We must never forget Obama’s alleged threat of using the “White House Press Core” to weaken what little opposition remained (who exactly were the terrorists?).
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October 18th, 2009 at 4:58 pm
—FREE HUMANITY—
showmebby Reply:
October 18th, 2009 at 5:00 pm
speak out stand up tell the world what is to come. We have little time left, but we can still make a differance in many lives. DONT GIVE UP. We will win this fight in the end.
—FREE HUMANITY—
jim from FL Reply:
October 18th, 2009 at 5:11 pm
Relentlessly distribute info….THAT’S WHY THEY CALL IT “INFOWARS”
yhe right Reply:
October 19th, 2009 at 8:42 am
Lie cheat and steal. Though these same exact people would never have lied about there being commercial plane crashes on 9-11 would they?
Hologram5 Reply:
October 19th, 2009 at 9:34 am
Don’t steal, the Fed Gov’t hates competition.
JJ Reply:
October 18th, 2009 at 6:57 pm
Support Vaclav Klaus
STOP THE LISABON TREASON!
supportvaclavklaus.wordpress.com
http://www.petitiononline.com/.....ition.html
(currently 17304 signatures)
Manny Rojas Reply:
October 19th, 2009 at 8:22 am
There is a war against freedom and the U.S. Consititution. This is why I recommend that the average truth seeker get informed and learn basic principles about law. The long awaited book that will help you defend your money & property against the scam of parking & traffic tickets has arrived. Also, learn the truth about how the legal system has been designed to keep you in voluntary slavery. Go to Amazon.com or click on the link below and get your copy…. LETS GIVE THESE DEMONS HELL!!!
http://www.amazon.com/Slaves-L....._rhf_p_t_1
Red Dawn 09 Reply:
October 19th, 2009 at 10:15 am
Right does not win out over wrong just for the fact that its right. Its from all the believers in the right that right wins out. Click my name for more information on todays hottest topics including swine flu,Ron Paul,Bilderberg and others. Movies,video’s,blog’s,text and when you cant cram anymore, Games. Updated daily and newly awakened patriots welcome.
October 18th, 2009 at 5:19 pm
Crooked people need to be out of the way. Keep fighting this nonsense people and show them that THEY work for US!!! There will be a civil war coming soon I promise you that and there is a WHOLE LOT OF US vs them! Time for the Revolution to kick it in high gear!!!
A wise and frugal government, which shall leave men free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned – this is the sum of good government.
Thomas Jefferson.
JaneTheCarpenter Reply:
October 18th, 2009 at 10:25 pm
GOD HELP US ALL!!!
October 18th, 2009 at 5:24 pm
1st!
outofstate Reply:
October 18th, 2009 at 5:47 pm
lol, you on dial up?
October 18th, 2009 at 5:47 pm
Alex has been explaining and providing copious evidence for a long time that the elite agenda is to implode the economy by looting at every turn, meanwhile pushing down and vilifying the middle class. This article, while shocking, is something we’ve seen before and will see again. All the positions of power in the United States need refreshing.
Why are we surprised every the government calls us terrorists? Why do we continue to gasp for breath at what these hyenas are doing to the great United States?
It’s time to start gathering against this evil before it goes too far.
brad3378 Reply:
October 18th, 2009 at 10:28 pm
Why won’t Alex support Obama’s middle class tax cuts?
Tacks Reply:
October 18th, 2009 at 11:11 pm
Brad,
Obama promised to cut taxes for the middle class during the presidential campaign; however, the Obama Administration is unwilling to press for the tax relief Obama campaigned on.
Obama’s Middle Class Tax Cut May Not Survive Budget http://abcnews.go.com/m/screen?id=7166810
Now I do feel sorry for you because you actually still believe that Obama is trying to fulfill his campaign promises.
will Reply:
October 19th, 2009 at 5:02 pm
The only cut will be in how much you take home after they get through with health care and cap and tax.
October 18th, 2009 at 5:57 pm
Rothschild says… http://www.youtube.com/watch?v=NhfjSM-pgsk
October 18th, 2009 at 6:31 pm
STOP Codex Alimentarious from coming to America
Congressional Oversight Needed to STOP FDA’s “Trilateral Cooperation Charter”
Sign: (currenly 25418 signatures. Goal 50000)
http://www.thepetitionsite.com...../373269232
More info and actions: www(dot)nocodexgenocide.com/page/page/3113337.htm
JJ Reply:
October 18th, 2009 at 6:42 pm
***** RESTORE CONSTITUTIONAL GOVERNMENT; END FDA CENSORSHIP OF HEALTH CLAIMS; AND END FTC CENSORSHIP OF HEALTH INFORMATION*****
H.R. 3394 The Freedom of Health Speech Act
H.R. 3395 The Health Freedom Act
H.R. 3396 The Congressional Responsibility and Accountability Act
SUPPORT the bills, click on the ‘take action’ buttons:
http://www.lef.org/featured-ar.....n-Paul.htm
October 18th, 2009 at 6:33 pm
Fight the Tyranny of Obama regime. Free Atty Richard Fine, who is kept in solitary confinement since March for fighting corrupt judges
orlytaitzesq.com/?p=5008
inproperinla.blogspot.com
Sign:
http://www.thepetitionsite.com/1/free-fine
Petition goal: 1000 signatures
October 18th, 2009 at 6:54 pm
STOP GMO MAIZE
[For GERMANY] Unterschreiben Sie hier:
http://www.campact.de/gentec/sn6/signer
(currently 34354 signatures)
October 18th, 2009 at 7:46 pm
1st!
Brain Washington? Reply:
October 18th, 2009 at 8:25 pm
1st at what?
October 18th, 2009 at 8:22 pm
Smoking bans are a big infringement on private property rights. Many of the permits and licenses that business owners are required to have are and infringement on private property rights. Owner’s right on how he wants to run the business and the customer;s right if he want to do business with that business. Smoking bans gave the right to Obama to take over private car companies.Smoking bans and high taxes have given the government to make your mind up for you.
Mac-101 Reply:
October 18th, 2009 at 11:24 pm
I hate smoking, but it ot to be the property owners deciesion to alow smoking. Just post a BIG sign saying designated SMOKING AREA! You don’t like it, don’t go to that business.
fasttracktoww3 Reply:
October 19th, 2009 at 3:53 am
Agreed: especially those business property owners who drive their carbon dioxide/carbon monoxide belching cars to their place of business with posted “no smoking” signs that profit from the sale of tobacco products.
will Reply:
October 19th, 2009 at 5:04 pm
I usually switch to Redman Chew when I go into those places. The world is my spittoon.
sleepwiththefished Reply:
October 20th, 2009 at 5:44 am
Lol!
October 18th, 2009 at 11:40 pm
I HOPE YOU AMERICANS TAKE BACK YOUR CONSTITUTIONAL RIGHTS BUT ALL I HEAR IS SOON,WHEN THE TIME IS RIGHT,ETC.THE BEST FORM OF DEFENCE IS ATTACK.ONE PIECE AT A TIME.
October 19th, 2009 at 1:45 am
No-One really owns anything folks!!! Your love, your hate, your wallet, your fate…what say y’all??? “All ‘HAIL’ Thermal Expansion!!!”
Chips Reply:
October 19th, 2009 at 5:52 am
I own my love, I own my hate.
Not so sure ’bout my wallet and my fate.
October 19th, 2009 at 5:05 pm
Smokers need there own HATE CRIMES bill. Just think of how many times they are discriminated against.
October 22nd, 2009 at 4:07 pm
Wow! what an idea ! What a concept ! Beautiful .. Amazing
October 22nd, 2009 at 9:54 pm
Wow! what an idea ! What a concept ! Beautiful .. Amazing
October 25th, 2009 at 4:18 pm
Nice post! GA is also my biggest earning. However, it
October 25th, 2009 at 7:45 pm
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October 30th, 2009 at 4:52 pm
You are a very smart person!