Reid is pushing to add a provision to the year-end omnibus that would help Caesars avoid bankruptcy by allowing it to restructure debt incurred by a subsidiary out of court, according to Senate and K Street sources.
Critics of the provision say it would narrow a Depression-era law intended to protect minority shareholders and apply retroactively to a handful of lawsuits against Caesars. One lawyer involved estimated that at least six cases would be affected.
The proposal is causing uproar because there has not been a hearing on it this Congress. Critics say it’s an example of another provision being slipped into a massive bill at the last minute to help a special interest.
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10 comments:
Gee wonder what is the size of kick back this crooked liberal sob is getting !!!!!!!!
Harry Reid bought and paid for by Nevada lobbyists. He has room to talk about corruption.
Reid needs money to buy obama's neighbors' homes in Hawaii.
Reid protecting his retirement investment income. We will see how McConnell handles this. Wager on he will allow it anyone.
Let the casinos die of their own accord, and Harry can die along with them.
Justice is Justice.
If he doesn't help them he will lose his eye!
Sounds like a bill of attainder
Man! The bribe must have been tremendous!
He doesn't even care what it looks like to other people.
Keep cheering.
Why, when we have so many decent, productive businesses going under, would we want to fund this mecca of excess?
In the local economy the casino provides quite a few jobs.
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