Posted on 05/06/2009 8:17:56 AM PDT by StopBigGovt
Robin Hood Obama pulled a fast one just the other day.
The Chrysler 'surgical' bankruptcy seems to be highway robbery foisted on its secured creditors and the American taxpayers.
Can bankruptcy courts make analysis past the first cut of percentages for secured vs. unsecured debt? For example, can the court say that the secured debt holder gets $0.10 on the dollar in plan 1, because in plan 2 they are promised $0.40 on the dollar but plan 2 is unlikely to succeed so there is a huge chance that plan 2’s real result is $0.00 on the dollar?
I really don’t know what to do.
Are there any Constitutional Attorney’s out there who could advise us on the constitutionality of Obummer’s UAW/Chrysler bankruptcy deal? I’d love to see a SCOTUS ruling on this!
I feel like I’m living in an alternative universe.
(to be sung) “We’re men. we’re men in tights, tight tights...”
Riddle: When is a bankruptcy not a bankruptcy? When it’s Obummer’s.
Riddle: When is a bankruptcy not a bankruptcy? When it’s Obummer’s.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.