I drew the same analogy to organized crime loan sharking in my "banana republic" post. Sadly, I'm afraid it is apposite. Once again, the Obama administration has steered us into uncharted waters: we have no experience with this lack of respect for the rule of law.

By the way: does anyone doubt that Barack Obama can mobilize, as he threatened, the "full force of the White House press corps" against any political opponent? No doubt there would be an honorable exception or two, but the threat is obviously credible.

UPDATE: The Obama administration denies making the threats alleged by Lauria. The denial, how...

I drew the same analogy to organized crime loan sharking in my "banana republic" post. Sadly, I'm afraid it is apposite. Once again, the Obama administration has steered us into uncharted waters: we have no experience with this lack of respect for the rule of law.

By the way: does anyone doubt that Barack Obama can mobilize, as he threatened, the "full force of the White House press corps" against any political opponent? No doubt there would be an honorable exception or two, but the threat is obviously credible.

UPDATE: The Obama administration denies making the threats alleged by Lauria. The denial, however, is merely a bald assertion. Lauria is the head of the bankruptcy group at White & Case, and a Democrat who contributed $10,000 to the Democratic Senatorial Campaign Committee in 2008. In that sense, you could say that he helped to bring about the corrupt regime that is now bullying his clients. But his credibility vastly exceeds that of an administration spokesman who, having no knowledge of the facts, is sent out to issue a blanket denial.

White House Denies Charge By Attorney that Administration Threatened to Destroy Investment Firm's Reputation

May 02, 2009 3:17 PM

A leading bankruptcy attorney representing hedge funds and money managers told ABC News Saturday that Steve Rattner, the leader of the Obama administration's Auto Industry Task Force, threatened one of the firms, an investment bank, that if it continued to oppose the administration's Chrysler bankruptcy plan, the White House would use the White House press corps to destroy its reputation.

The White House said the story was false.

"The charge is completely untrue," said White...

White House Denies Charge By Attorney that Administration Threatened to Destroy Investment Firm's Reputation

May 02, 2009 3:17 PM

A leading bankruptcy attorney representing hedge funds and money managers told ABC News Saturday that Steve Rattner, the leader of the Obama administration's Auto Industry Task Force, threatened one of the firms, an investment bank, that if it continued to oppose the administration's Chrysler bankruptcy plan, the White House would use the White House press corps to destroy its reputation.

The White House said the story was false.

"The charge is completely untrue," said White House deputy press secretary Bill Burton, "and there's obviously no evidence to suggest that this happened in any way."

Thomas Lauria, Global Practice Head of the Financial Restructuring and Insolvency Group at White & Case, told ABC News that Rattner suggested to an official of the boutique investment bank Perella Weinberg Partners that officials of the Obama White House would embarrass the firm for opposing the Obama administration plan, which President Obama announced Thursday, and which requires creditors to accept roughly 29 cents on the dollar for an estimated $6.8 billion owed by Chrysler.