Supreme Court clears way for sale of CHRYSLER...( Rule of Law ABOLISHED!?)

http://www.drudgereport.com/ ^ | june 9 2009 | drudge

[Para-Ord.45]

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.

[Drill Thrawl]

U.F.B!

[Orange1998]

Black Letter Law worthless.

[WestSylvanian]

I know some vehicles you shouldn’t park your money in. Don’t buy a Chrysler or Government Motors car. Buy a Ford or a Honda or a Toyota, or anything that doesn’t have the taint of Obama on it. I heard commentary on Glenn Beck today that the government takeover will put Ford out of business. They won’t be able to compete with government cars being marketed with government buyer incentives and whatever other coercive measures Obama’s brownshirts will use to force people to buy from nationalized enterprises. Things are looking real bad for economic freedom of choice in this country.

[TexasKate]

I read that is was an unanimous decision

[CA Conservative]

I think there’s 1 action left to secured bondholders, an “inverse condemnation” action. That’s an action based upon the “Just Compensation” part of the Takings Clause, and it means, in effect, “You’ve already taken my property, so now please pay for it.” It’s an after the fact the action that doesn’t block the sale.

As a matter of fact, they seem to have structured this deal to prevent just the sort of action you are proposing. What will happen is all of the parts of Chrysler that have value will be placed into a new holding company. All of the debts and the parts that have little value will be left in Chrysler. Any compensation to the secured creditors will come from the part of the company that has had all of the assets drained from it, with no recourse against the "new" company.

I am amazed and saddened by what we are seeing,and increasingly angry. My family will never own another GM or Chrysler vehicle.

[bricklayer]

Give this to me in layman’s terms, please.

[garjog]

[editor-surveyor]

Sad day for law and order.

Be cautious who you trust from now on!

[Lurking Libertarian]

At least one, if not all of these four, Scalia, Thomas, Roberts and Alito, is complicite in this ruling.

There is no recorded dissent, so it appears that all four are.

[muawiyah]

There can be little doubt that Obama thinks he's already paid off the NEA with grants to school districts promised in the Stimulus Bill.

However, that spending is scheduled for the future.

Part of the problem of "ruling according to groups" is you get blinded to the subgroups.

Next, UAW gets screwed!

[tioga]

oh, please......the teachers are so enamored of theOne that they don't care about the loss.

[AirForceMom]

I am.

[Tarpon]

Not so, you can’t read that into this short order ... It decided nothing and the SC said so.

Maybe some lawyers would like to take a crack at clearing this up?

[sionnsar]

They are going to have to relearn, the hard way, all the lessons our Founding Fathers and many generations of leaders learned.

I would prefer they learn the lesson George III did.

[sport]

I think that Almight God has finally let man do as he pleases. HE is looseing HIS restraints on man and allowing man do do as he pleases. before obama and his deciples are finished, every institution in the United States of America will be destroyed.

[Tarpon]

They thought the case weak ...

[tioga]

follow the money...

[plain talk]

I’d expect a huge selloff in the US Markets tomorrow. Huge.

Little market impact because of this. Markets are looking out 6 months and have already factored this sale as a done deal. If there was any impact it has already happened and markets were not counting on a last ditch effort to have the Supremes stop it.

[sionnsar]

There will be is no America and no Constitution.

[newfreep]

"It didn’t take Zero that long to totally destroy what it took 2+ centuries to build."

You mean 20 centuries...