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My uncle Sam's heavy and my next guest has a price of creditor.
Who refuse to -- to the government's demand to accept pennies on the dollar in fact he's excited for bankruptcy court because that is where George -- Thinks he'll finally get fair treatment and everyone else for that matter.
The president doesn't like you -- you personally would seem to castigate you the other -- There's some we've been a lot of politics here but how did you feel of that.
Thought that was unusual I mean for bankruptcy.
A bankruptcy investor like myself have been doing this for fifteen years.
Bankruptcy laws well settled.
That the sixth senior secured creditors are due to be paid first.
-- and was the president of the United States the leader of the free world the guy with the helicopters and planes doesn't have to wait in traffic -- -- zero and you.
A little scary.
You didn't mention my name.
Well actually other people in our in our group have been threatened and you know it's it's it's -- a lot of concern I think I think why did you do.
The argument is that you guys dragged your heels for selfish reasons and that's the way the president portrayed you and and -- has your chance to respond.
Right well it it's really not true it's not about being a -- that are trying to ask for something that's not fair this is about.
Getting your contractually.
Agreed upon rights and upholding bankruptcy law which is well settled in this country to do otherwise it's really.
To go backwards and in in law and but the argument you don't -- on what -- you win at the country if the company goes to put and his need enabled today.
Anyone on the line let alone those who the first on the line as you would be in this case.
Well Chrysler isn't really in bankruptcy because of a couple -- -- It's in bankruptcy because at the troubled company and its cost structure is too high.
It hasn't been able to adapt to changing times.
The fact that a deal was struck an unfair deal that gave junior -- -- -- recovery ahead of the senior secured lenders has nothing to do it.
You know the reason -- got into bankruptcy had to go into bankruptcy anyway to get cleaned up -- -- thanks.
I think Chrysler will be better coming out of this but what we're really standing for is just fair treatment.
All right on what's your.
Under and over priced right now it's gonna make it does and I'm going to -- Chrysler will definitely make it.
It's it's you know many companies go through bankruptcy court and it's at the little women -- and they do this in the beginning.
I think they should have done it earlier and spent a lot of who -- with a lot of legal money not doing it earlier.
But I think this is it's a great form because of the federal bankruptcy court that's overseeing the process.
Allow the company to reject unprofitable contracts and and really get a new lease on life and I think that's exciting and it's good for our country.
And it's also good for the for the company everyone then there's as -- 3060 day time on this.
And I'm out and I don't ever and ever so quickly -- you know out of bankruptcy so.
What happens if the past sixty days they're not close you know it is in this media age everyone's -- -- oh in the kill it before it's dead.
I think that's unrealistic to expect one of the largest companies going through bankruptcy ever to be out in sixty days I think it's unrealistic goal -- I'd be surprised -- -- six months really down at the typical bankruptcy goes on for two years.
So to have the biggest company in one of the biggest companies ever go through in thirty or sixty days I think it's unrealistic for you for this the other thing.
We're seeing them in the hands -- you know what.
Using taxpayer dollars to give the company -- an American icon away to a foreign buyer.
Without the foreign -- putting any dollars in -- all you know basically giving it to them for free.
I think is a little unfair to the taxpayer.
But that's not my biggest objection to the deal my biggest objection I have is was my biggest objection -- Fiat cars too small you're tall guys are -- -- Would fit mafia right right well.
The company does need new management on the other guys Chrysler OK I think feel -- -- okay although not.
Really I'm not really that well better than Christ -- virus.
From George thank you very very much my pleasure thank you -- happen.
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