Posted on 06/09/2009 4:28:47 PM PDT by Para-Ord.45
Edited on 06/09/2009 4:38:36 PM PDT by Admin Moderator. [history]
High court won't block Chrysler sale
WASHINGTON (AP) - The Supreme Court has cleared the way for Chrysler's sale to Fiat, turning down a last-ditch bid by opponents of the deal.
The court said late Tuesday it had rejected a plea to block the sale of most of Chrysler's assets to the Italian automaker. Chrysler, Fiat and the Obama administration had warned that the high court's intervention could have scuttled the sale.
A federal appeals court in New York had earlier approved the sale, but gave opponents until Monday afternoon to try to get the Supreme Court to intervene.
Justice Ruth Bader Ginsburg ordered a temporary delay just before a 4 p.m. deadline on Monday.
Excerpt.
Didn’t Peter Schiff predict that the T-bills market would collapse, then the commercial real estate market? And then China and Asia would “decouple” from the US and let us sink without them? Sounds like it’s all about to happen.
>It is a sub rosa reorginazation pland - Chrysler creates a new company, sells all of it assets to the new company for pannies on the dollar, and leaves all the debt in the old company.
>
>Illegal as H$LL.
But it’s ok when the government does it! [/sarc]
(I need to sit down and count the ways this situation is unconstitutional... equal protection under laws is obviously one major area if, as you say, this reorganization is so illegal.)
That is a great explanation. That is what needs to be publicized.
Unfortunately this isn't new. Once the very first decision allowed the "Constitutional" creation of limited rights - called "privileges" - under federal jurisdiction, this was not only inevitable, but intended.
People who vote democrate never expect that their “do gooding” tax programs will ever touch them. They think that unilateral disarmament is going to be honored with peace. Irony is they use government police force to start this process.
They don’t understand that technicaly the poor need also weapons and a form of wealth to fend off the wild communist beasts in sheep’s clothing, and these poor make part of the middle class.
The dow is up because people are getting laid off and because the media has been brainwashing for the Obama-uptick popularity correlation ever since before the elections.
Obama is counting on domestic pauperization and interdependency immorality to remain in power.
LOL! :)
The hubby and I would like to be on that ‘call’ list.
Seriously.
“I gotta go find out where my bonds are located and dump them like a hot potato. Secured corporate bonds are not worth the paper they are printed on. All bonds are officially “junk” bonds”
I suppose what the refusal of SCOTUS to review the Circuit’s decision means is that not enough of the conservative majority on the court felt there was a serious constitutional issue there. It will be interesting to see what, if anything, happens on the bond market today.
And 49 States!!!
Whose?
I guess losing 69 cents on the dollar is not harm enough? Being told your secured debt is not as important as unsecured debt is not harm enough? What DOES it take? someone to be killed?
And I am asking because I honestly do not understand how they could make such a determination.
This is a serious question, not a snarky question:
Where are the A-team conservative lawyers in this? If I understand this correctly the case brought before the USSC didn’t meet the right conditions to be heard. Even the conservative judges, it seems, couldn’t sign on to it. They implied they should try again and maybe they’d get heard.
We needed a solid case built on law that the USSC could not ignore. But we didn’t get it.
Why do conservative keep getting their clocks cleaned legally? Do we lack competence or brilliance or what?
The ACLU wins all the time. WHY DON’T WE?
What could the constitutional issue have been?
Thanks, PG.
“This will have an incredibly negative impact on business in America.”
Yeah, it’s like one of the kingpins of capitalism was destroyed overnight.
You’d think that the Obama admin had read Das Capital and believed in it!
It's as bad as we think it is... And Obama? He's a lawyer - he knows what he's done.
Remember that the creditor here in the Chrysler is a pension fund for a state government. So if our supreme court is ready to screw our own citizens, our own state government employees;. Imagine how quickly they would set aside the rights of foreigner companies or investors. This is the wrong message to send” .
Remember that the creditor here in the Chrysler is a pension fund for a state government. So if our supreme court is ready to screw our own citizens, our own state government employees;. Imagine how quickly they would set aside the rights of foreigner companies or investors. This is the wrong message to send” .
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