Classic:

An attorney representing several Chrysler bondholders accused the Obama administration of intimidating his clients by issuing threats of public humiliation if they opposed their brokered deal to resolve the automaker’s debts.  Speaking to WJR, Thomas Lauria said that the White House called the bondholders “vultures” for insisting on their rights as senior creditors and told them that the Obama administration would use the White House press corps to attack them in the media.  Corky Boyd has the transcript (also via HA reader Geoff A):

Lauria: Let me tell you it’s no fun standing on this side of the fence opposing the President of the United States.| MORE ›

The New York Times certainly thinks so:

Fresh from pushing Chrysler into bankruptcy, President Obama and his economic team are hoping that the hard line they took last week gives them leverage to force huge changes in General Motors, a far larger and more complex company.

Officials say that, difficult as Mr. Obama’s decision was on Wednesday to take all the risks of a Chrysler bankruptcy, the politics of reshaping G.M. will be far harder.| MORE ›

Shortly before the deadline established by the federal government passed, Chrysler and union leaders said they had reached an agreement. It once again proves that pressure can accomplish a lot.

The deal includes Fiat, the Italian automaker with which Chrysler was ordered by the government to form an alliance before Thursday.| MORE ›