WASHINGTON (AP) - Supreme Court Justice Ruth Bader Ginsburg has temporarily delayed Chrysler's sale to Fiat. Ginsburg says in an order Monday that the sale is "stayed pending further order." I have to admit that this move by Ginsburg surprised me. I had heard that the Indiana benefits plan's case coming before her. However, I suspected that Ginsburg was going to rubber stamp the deal for Obama. Well surprise, surprise, surprise. I hope that the Supreme Court gives the Obama administration a real hard slap down over all these crazy TARP shenanigans.
If the Supremes rule that, all this direct government intervention into the private sector contracts is unconstitutional, then maybe we won't ever have to worry about the Pay Czar, government control of banks or ugly little cars from the new GM!
Posts
3 comments:
Yep, just like they did during the FDR administration too. Then rules that NRA and WPA were not Constitutional.
Conservative Scalawag:
Keeping fingers crossed!
No such luck, the rest of the SC quickly reversed this and OK'd the deal to go through.
I'm of two minds on this.
I really DON'T like the Obama administration's turning centuries of contract law on its head - collateralized creditors ALWAYS get first dibs and more $$$ on the dollar.
BUT, if the deal didn't go through and Chrysler was forced into liquidation, everyone might have come up even worse off.
The crux of the problem is that Chrysler, like the rest of the "Big Three" could no longer compete, even in their home market, THANKS to GOVERNMENT action!
The government allowed foreign competitors to come in and set up their plants in non-Union locales, while the "Big Three" were saddled with Union-related costs that had their labor costing a FULL THIRD MORE than their competitors.
Chrysler should've been allowed to die....after all, the government had already killed it. The body just hadn't stopped breathing yet.
Post a Comment