SCOTUS Tosses A Monkey Wrench Into Chrysler Deal

[angelatc]

Somewhere, right now, Obama is very, very pissed.

http://money.cnn.com/2009/06/08/news/companies/chrysler_stay/index.htm

The bankruptcy judge overseeing the Chrysler case had given approval for the company's most valuable assets, such as plants, dealerships and contracts, to become part of a new company in which Fiat would hold a significant stake.

But the Supreme Court, in an order issued late Monday, granted a request for a delay of that approval sought by Indiana state pension funds, which had argued that they and other lenders deserved better treatment by the bankruptcy court.

 

[moostraks]

SCOTUS clearly did not get the memo. The emperor is probably stomping his wee feet. Alas, there will be a small song and dance and a nod will be made towards some form of justice to those debt holders while all goes down as previously planned. This way the debt holders have no recourse but accept any decision which will invariably go the emperor's way...

 

[rp4prez]

Like they are really going to do anything that is really constitutional. They have no balls.

 

[FSP-Rebel]

SCOTUS clearly did not get the memo. The emperor is probably stomping his wee feet. Alas, there will be a small song and dance and a nod will be made towards some form of justice to those debt holders while all goes down as previously planned. This way the debt holders have no recourse but accept any decision which will invariably go the emperor's way...

I like your thinking.

 

[angelatc]

Like they are really going to do anything that is really constitutional. They have no balls.

We can hope. After all, "To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;"

The executive branch doesn't write law, and this is anything but uniform.

 

[FSP-Rebel]

We can hope. After all, "To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;"

The executive branch doesn't write law, and this is anything but uniform.

Hey, cut them some slack. They're only looking out for our best interests.

 

[angelatc]

Hey, cut them some slack. They're only looking out for our best interests.

I didn't mean to imply I had much hope.....

 

[nobody's_hero]

Apparently, this is one of those once-in-a-century times in which the SCOTUS rears its derelict head and actually does something to defend the Constitution. Unfortunately, whatever decision it arrives at will be distorted and re-interpreted until it bears absolutely no substance whatsoever (like DC-vs-Heller, the infamous decision was made that "The right to keep and bear arms is an individual right except when it is not" case)