Posted on 06/08/2009 1:08:48 PM PDT by DCBryan1
Breaking on CNBC:
USSC delays Chyrsler asset sale!
Mourdock: USe of Tarp Funds in automotive industry was illegal
Obama admin had urged USSC NOT to keep chrysler deal on hold
Ruth Bader Ginsburg:
“UPON CONSIDERATION of the application of counsel for the applicants, and the responses filed thereto,
IT IS ORDERED that the orders of the Bankruptcy Court for the Southern District of New York, case No. 09-50002, dated May 31 and June 1, 2009, are stayed pending further order of the undersigned or of the Court.”
Obviously Barry got the twitter on the back nine.
;)
SCOTUSblog is saying that nothing can be read into her brief statement. All it means is that she, or perhaps the full court, need a bit more time to decide whether to take the case or not.
At the top here: http://www.scotusblog.com/wp/ for now.
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."
The action indicates that the delay may only be temporary.
Chrysler has said a delay could scuttle the deal.
A federal appeals court in New York had earlier approved the sale, but gave opponents some time to file an appeal with the Supreme Court.
The Chrysler case could set a precedent for General Motors[GMGMQ 1.21 0.345 (+39.88%) ], which is using a similar quick-sale strategy in its bankruptcy in New York.
A group of Indiana pension funds argued that the sale of Chrysler unlawfully rewards unsecured creditors ahead of secured lenders and amounts to an illegal reorganization plan, and that the U.S. Treasury Department overstepped its legal authority by using bailout funds for Chrysler when Congress intended the money for banks.
© 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
It appears to be an open question what will happen, but obviously this is A first step.
Benito Obama will not be pleased.
Ruth??? Ruth??? Dammit Ruth...let me in.
You’d think Obama would have learned from FDR when trying to take over an economy: stack the Supreme Court with cronies before breaking the laws written in the Constitution. It’s also in every “dictator for dummies” book ever written. Jeez, where did Obama get his education?!?
Are you sitting down, cause it’s a shocker ....
RUTHIE GINSBURG !!!!
Please, Oh PLEASE have them ACORN fellers come on down to Indiana. I’d be real happy to show ‘em my gun collection.
Woo Hoo!!
~~~
Laughing at this headline:
Obama lawyer: Chrysler-Fiat must be allowed
http://money.cnn.com/2009/06/08/news/companies/chrysler_bankruptcy/?postversion=2009060811
Excerpt:
“A top Obama administration lawyer urged the Supreme Court on Monday to allow Chrysler’s bankruptcy to proceed, noting that the needs of the economy outweigh the needs of the deal’s detractors.”
~~~
Dear God, let this be the first of MANY defeats of
Overlord Obama and his equally arrogant crew of thugs!
I would contain my enthusiasm.
It’s a temporary stay that gives Ginsburg and the Court time to consider the matter further . I wouldn’t read too much into this. The 2nd Circuit set the deadline last Friday and Ginsburg has had about one day to consider all the issues raised and to read the various briefs which is hardly enough time, so a stay is appropriate
LOL
Fortunately or unfortunately, impeachable offenses are whatever congress says they are. With the current makeup of that esteemed body outside of him being discovered sacrificing virgins I don’t think anything will be considered an impeachable offense.
Geithner could very easily be sacrificed though.
This is BIG NEWS, Folks....
Obamunism may get stopped dead in it’s tracks if the Supremes rule in Indiana’s favor.
And you’ll have one person to thank for it.
MITCH DANIELS....
Rats - the stay is only temporary!! This leaves time for ODRAMA to work his mojo and cut secret deals to kill our beloved rule of law!
Here’s the text of the statement from Associate Justice Ruth Bader Ginsburg:
“UPON CONSIDERATION of the application of counsel for the applicants, and the responses filed thereto,
IT IS ORDERED that the orders of the Bankruptcy Court for the Southern District of New York, case No. 09-50002, dated May 31 and June 1, 2009, are stayed pending further order of the undersigned or of the Court.”
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.