The state of Indiana, a holder of senior Chrysler notes, is still trying to block the administration’s quick bankruptcy plan, even as the original hedge fund holdouts have given up the fight.
State Treasurer Richard Mourdock was on CNBC, explaining the state’s fight to CNBC. To him it basically comes down to two things: Looking out for the interests of the state’s pensioners (firefighters, police, etc.) and fighting for the rule of law.
The real firework comes at at the 6:00 minute mark, when he asks why Obama is willing to call this a special circumstance — one that’s worthy of trampling on creditholder rights — while he wasn’t willing to grant that 9/11 was a special circumstance worthy of aggressive interrogation techniques.