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Late yesterday, the Supreme Court cleared the way for the sale of the bulk of Chrysler’s assets to Fiat. A spokesperson indicated that the deal will likely close early today. For more details, click here.
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back to top11 Comments to “Court clears way for Chrysler sale”
So much for the little guy. Here is what happened: The Obama administration pressured the court to not even hear the case, otherwise he was going to stick it to the taxpayer. That is extortion plain and simple. It is one branch of government threatening another branch to step out of the way. So much for checks and balances. There goes the bond market.
“The court did not consider the merits of the opponents’ arguments, only whether to hear their full-blown appeal.”
“The United States government has, I continue to believe, acted egregiously by taking away the traditional rights held by secured creditors.” (Indiana Treasurer Richard Mourdock)
“Chrysler, Fiat and the Obama administration stressed in response that Chrysler was losing $100 million every day its plants remain closed and that the deal would automatically terminate in less than a week, with no guarantee that a new agreement would be reached.”
“If the closing is delayed by more than 10 days, the government will need to “either to increase its overall funding to the detriment of taxpayers, or abandon its role in the transaction,” the administration said.”
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Another nugget from the linked article:
Consumer groups and individuals with product-related lawsuits also contested a condition of the Chrysler sale that would release the company from product liability claims related to vehicles it sold before the asset sale to Fiat. Compensation for such claims would have to come from the parts of the company not being sold to Fiat. But those assets have limited value and it’s unlikely there will be anything to pay out.
Just one more of the foul-smelling aspects of the government’s git-her-done-before-anyone-can-learn-the-details intervention.
Flash back a few years to the post-9/11 period, when legislation like the creation of DHS and the Patriot Act were being fast-tracked. Many conservatives, myself included, were not greatly concerned with the details, because we were in overall sympathy with the President and the need to address the crisis. Today, many liberals are in the same place. Will they learn from the past?
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If they’re expecting pennies on the dollar, is that change they can believe in?
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Xion will be sentenced by our socialist government to drive a Plymouth for the rest of his life.
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So does that mean that the all-American Jeep will be made by Fiat? That just doesn’t seem right.
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Well, this epispode is just another coffin nail for the rule of law in the USA.
For all you on the Left who howled for 8 years about BusHitler ending the freedoms of the American people, your ObaMessiah is not doing far worse – without a peep from you.
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If KRM is saying that he agrees with Xion when Xion says “The Obama administration pressured the court to not even hear the case…” then I have to disagree. No one pressures them.
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RN, does Xion get a Prowler?
My first car was a 1968 ‘Cuda, the Commando version with the little V8.
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#8
We had a slant 6 Valiant at one time. A car notorious for running and running and running like an energizer bunny. Though when I taught high school, one of my students told me with contempt that it was a little old lady car.
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#4 Xion will be sentenced by our socialist government to drive a Plymouth for the rest of his life.
I think that would be far better than the People’s Car that Obama and the mafia bosses will make us drive. It will be as fuel efficient as a Yugo, but will break down every 9 miles and have trunk space as large as a matchbox.
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Itty-bitty baby Jeeps?
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