INDIANAPOLIS — The night before Chrysler filed for bankruptcy, the investment manager that state Treasurer Richard Mourdock hired to pump $18.3 million of Indiana's money into the struggling automaker agreed to settle.
Hours later, Mourdock — who said he had not known Indiana took the deal — wiped his brow when a handful of hedge funds broke the entire agreement apart. Within days, he was plotting his own effort to stop the company's restructuring.
A judge compared him to "the little man in Tiananmen Square when the tanks rolled in."
Over six weeks, he spent $2 million — more than the $1.6 million difference between the deal his investment managers had agreed to take, and the new one that he was fighting — on a legal battle that he would take all the way to the U.S. Supreme Court.Continue reading Treasurer reversed fund manager at key political moment