Obama's flat-out lie of the day

Today's Obama's lie of the day involves the Chrysler bankruptcy.

Obama lie:
"A group of investment firms and hedge funds decided to hold out for the prospect of an unjustified taxpayer-funded bailout," Obama said, flanked by his economic, energy and environmental teams. "They were hoping that everybody else would make sacrifices, and they would have to make none. Some demanded twice the return that other lenders were getting. I don't stand with them."

Truth:
The bondholders offered to take a 60% loss on their investment.

The big banks who have agreed to the new government plan to redistribute the equity in Chrysler, a former private sector company, have all taken TARP money and are now slaves to the whims of a socialist government. The bondholders, who in typically denigrated by Obama because they are a non-government entity, are first in line to be repaid for the initial faith in Chrysler. Obama will also tell the UAW they only have to take a 50% loss on their investment in Chrysler. This is significant because any less and then they wouldn't gain majority ownership of the company.