Suspenders down to their last threads, GOP Country Club tries to save Richard Lugar, Obama's most favorite of his many favorite Republicans.
4/22/12, "When Richard Mourdock stood tall for private property rights," Legal Insurrection, William A. Jacobson
"With barely two weeks until the primary, if you still need a reason to dig deep and help Mourdock out against Lugar’s money machine, then listen and read about the Chrysler bailout....
Via the IndyStar this morning:
State Treasurer Richard Mourdock made a decision three years ago that was fraught with risk for thousands of Hoosier jobs and his own political future.
He tried to stop the Chrysler bankruptcy deal.
Within minutes of his decision, he became a target — especially for many in the auto industry.
“I thought that my political career was over,” Mourdock recalled….
But the reason Mourdock is in a position to challenge Lugar at all goes back to Mourdock’s May 19, 2009, decision to be the nation’s lone government official to challenge the auto bailout…
As part of a restructuring deal, Chrysler would get $8.5 billion and GM would get $35.1 billion.
Most was in loans, but the federal government took a small share of Chrysler stock and, with the United Auto Workers, a much larger share of GM.
The plan required secured bondholders to accept 29 cents on the dollar for their investments. That came as a shock to Indiana. The Indiana State Police Pension Fund and the Major Moves road construction fund, managed by the treasurer, and the Teachers’ Retirement Fund, managed by a board, all had Chrysler bonds….
Instead, Mourdock sued to prevent the trampling of bond holder rights. Ultimately the bailout was allowed to proceed."...
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Ed. note: Bipartisanship isn't the same thing as a one party system. Democrats are allowed to have free speech and a 2 party system. Why not right of center people as well?
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