If if wasn’t for the Great Recession, Tribune’s going-private transaction and ESOP would appear to be the root of all evil … and extra loot. As it is, the lawyers for the creditors are now looking at it as suspiciously as the IRS and a group of former employees are.

Certainly if the creditors are looking for a source of more money, they’ll have better luck squeezing it out of Dennis Fitzsimons than they will a bunch of displaced and unemployed journalists. He and his cronies are the ones who put the spear in the elephant. Now it’s getting down to who gets most of the carcass.