Sunday, June 07, 2009

Supreme Court Asked
To Block Chrysler Sale To Fiat

by Staff - June 7th, 2009 - Associated Press

The emergency request goes first to Justice Ruth Bader Ginsburg, who handles such matters from New York. She can act on her own or refer it to the entire court.

The Indiana State Police Pension Fund, the Indiana Teacher's Retirement Fund and the state's Major Moves Construction Fund claim the deal unfairly favors the interests of the company's unsecured stakeholders ahead of those of secured debtholders such as themselves.

The funds also challenged the constitutionality of the Treasury Department's use of Troubled Asset Relief Program, or TARP, funds to supply Chrysler's bankruptcy protection financing. They say the Treasury did so without congressional authority.

The government-sponsored reorganization of the U.S. auto industry, including the Chrysler bankruptcy proceedings, "is a matter of incredibly high profile and importance," the funds said in their request to the high court. "The public is watching and needs to see that, particularly when the system is under stress, the rule of law will be honored and an independent judiciary will properly scrutinize the actions of the massively powerful executive branch."

Not much chance of the judiciary staying out of the politics and stopping an abusive executive branch. Especially with communist enthusiast Ruth Bader Ginsburg calling the shots. There is no justice in America. The courts are politicized and corrupt. By his use of the simple strategy of rushing the courts, Obama has effectively emasculated them. Bader Ginsburg is a leader in politicizing the courts for the purpose of advancing liberal causes. Of course it does not help that 'compassionate communist' George W. Bush led the way in violating the Constitution and 'the rule of law' by corrupting the TARP process before Obama even became President. That gives Obama and his Obamanista followers carte blanche to do anything they want.


Post a Comment

Subscribe to Post Comments [Atom]

<< Home