"The welfare of humanity is always the alibi of tyrants" - Albert Camus

Thursday, October 21, 2010

Does Any Progressive Believe In Honoring Contracts Anymore?

First, it was the Chrysler bond holders that the administration threw under the bus (in favor of the UAW union).  If you remember, the hedge funds that were holding Chrysler's secured debt (in form of bonds) were ridiculed, threatened, and finally beaten in to submission last year.  Soon after, similar faith ensued the G.M. bond holders

Neither of these two cases were a surprise, having seen the thugs in action earlier with executives of major banks (remember the "I am the only one standing between you and the pitchforks" comment?).  The ridicule and when necessary outright threats continued later when dealing with doctors and health insurance companies.

The latest is disgraced so-called economist Paul Krugman who wrote that debt counselors need the ability to modify mortgage loan documents on already outstanding home loans. 

What is it with progressive liberals disregarding contracts - be it a secured loan like a mortgage, bonds, insurance policies, or whatever else?  If it benefits the unions or any group of voters that they percieve as ready to buy off, you may as well be dealing with the mob.
Ooops, sorry, I am sure even your local, friendly mobster has a better moral compass than a progressive liberal.

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