Tuesday, June 9, 2009

About Time: Supreme Court Stays Chrysler Deal

Finally! The Supreme Court has stepped in to (at least temporarily) halt the unConstitutional Chrysler deal. With luck, the GM deal won't be far behind.
The Supreme Court on Monday granted an emergency appeal asking it to halt the impending government-backed sale of Chrysler to Italian automaker Fiat.

The order stops for now Chrysler's sale, which the company claims could scuttle the deal.

Justice Ruth Bader Ginsburg signed the order, but it may be only temporary.

A federal appeals court in New York had earlier approved the sale, but gave opponents until 4 p.m. ET Monday to try to get the Supreme Court to intervene. Ginsburg issued her order just before 4 p.m.

Indiana Treasurer Richard Mourdock said the ruling was a small victory for Indiana pensioners, who brought the request for an injunction for fear of losing their stake.

"The ... thing I hear is, 'Oh, if this doesn't happen, the sale won't take place.' Let's not forget Fiat is not paying one penny for 20 percent of this deal. If I am going to receive $400 million worth of assets on day one and I don't have to make an investment, I don't care so much if it happen Monday, Tuesday or next week, I am going to be there in the end."
As HotAir (hat tip) points out, if Ginsburg is unhappy with this deal, it has to be a real stinker. (Which is obvious anyway from this one line alone: "Fiat is not paying one penny for 20 percent".)

Going beyond any past Administration, Obama has chosen not only to rob the public Treasury but to give private citizens assets away for free to Fiat's investors for the purpose of social engineering. Not for nothing is the Pretender also known as the Anti-American. In my eyes, he's just an Anti, period, but that's a discussion of another day.

Today, I celebrate the best news I've read in over a year. Now if the Justices will just do their job, the one performed by their counterparts 75 years ago (ala FDR and the NRA, and again in 1952 against Truman's nationalization of the steel businesses), and start striking down one after the next of the long line of anti-Constitutional acts performed by the Feds over the past year, this country might return to some semblance of normalcy.

There are many reasons the auto manufacturers crisis has reached this stage, of course, not least because of the way the story has been (non)reported by the major news outlets. But the American people have to take a share of the blame as well, since they've been largely indifferent to the Bush and Obama administrations' thievery of the public Treasury (now over $50 billion) for the sake of the UAW and some politically connective executives.

On the whole, most people don't see it as affecting them — since they don't see the impact of the precedent being set. They should remember the famous phrase coined after WWII "first they came for the Jews." Well, first the Feds came for the trains in the 19th century. The only surprise is that it's taken this long for them to come for the automakers. (Not that they haven't been busy hobbling them in the meantime, which has created the current crisis.)

In the defense of the average person, they might simply have become numb under the neverending fascist blows the Feds have been striking the past year. Fair enough. But, apart from the enormous injustice enacted in this case, such things are always used by the tyrants in Washington and their cheerleaders to justify other, usually larger, acts of malfeasance. Long past time to say enough is enough.

Fortunately, at least for now, the Supreme Court has drawn a line in the sand. One can only hope they'll get out the bulldozer and start pushing back the Progressive dune, preferably over a cliff.


[Also: here]
The U.S. Supreme Court on Tuesday cleared the way for the deal after delaying the sale pending review of a case brought by Indiana state pension funds challenging Chrysler's bankruptcy. Those funds argued that they and other lenders deserved better treatment by the bankruptcy court.
Well, that was a brief Shangri-La. What do you want to bet Obama called a few Supreme Court Justices...

1 comment:

Minorcan Maven said...

THIS was most fantastic news! I am hopeful and prayerful that justice will be served in the court on this issue. I saw somewhere that today would be the decision, haven't heard further, but haven't had the news on either.

By chance have you seen the letter from a Dodge dealer to his local newspaper, that has been going around? Google it if not. Will break your heart and make you froth at the mouth.

Gotta run!