Yep, the media and the idiot rethuglican autophile trolls.

They were on here salivating at this, acting as if it was some kind of repudiation of the Obama admin. A fifth grader could have told you the Supreme Court wasn't going to rewrite bankruptcy laws over this...but then again the Fauxnew-Limbaugh clowns aren't as smart as a fifth grader.

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I agreed with this yesterday and called it...Justice Ginsberg was just buying time to ensure the entire court was on it.

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They were asking the supreme court to uphold 230 years of bankruptcy law precedence.

That Secured Debt is actually secured.

The executive branch, via un-accountable "Czars" that report only to the dictator, violated the bankruptcy law.

The secured debt was thrown to the back of the line, and other private businesses have been thrown out of business. That would be long standing dealers.

FIAT. That should hold a double meaning. FIAT, as in dictatorial order, "because they say so."

The secured debt holders expected the rule of contract and bankruptcy law to be upheld. It has now been torn asunder, with tacit approval of the Judicial branch, and no input whatsoever from the Legislative branch's oversight role.

Bonds now mean nothing. Congratulations to the US Government for destroying a mainstay engine for the US economy, and undermining the philosophical stability of the United States of America.

This is a flagrant violation of the US Constitution, and is thus a violation of the POTUS' Oath of office. Oh, wait, that got botched when it happened, so I suppose that is isn't binding.

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BoxerFanatic, if one word of anything you said had ANY truth to it the Supreme Court would have considered the case. Its legal, and fair, and you are just going to have to go back to being a miserable angry racist.

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I hope so too. It depends on a couple of things: One, can Chrysler get back at least some of it's mojo that it had in the 90's? Seeing what they did with the Challenger, Ram, and now the new Grand Cherokee on such limited resources I would say yes. When you think about it it's amazing how much they did since they got out from under Dumbler's thumb.
Two, will FIAT be smart enough to help where they can and leave them the hell alone and not interfere with Chrysler when it's not needed? Something that Dumbler never figured out. Of course there is the economy, but that's out of Chrysler/FIAT's control, so I'm only focusing my remarks on what they can do for themselves.

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They do, it's called taxes. They even take it right from my paycheck and spend it on crap like bailouts and foreign wars.

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Um you do know what the government is allowed to do with a Chp 11 right?

Everythings been COMPLETELY legal here. Stop getting your talking points from Rush and actually open up a copy of the US constitution and read the section deal with bankrupcy, then open up a copy of the bankruptcy laws.

You might be shocked at what you find the Governments allowed to do in regards to a Chapter 11.

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Oh the other thing, you do realize that "investments" can be lost at any time right? Thats the fun of the stockmarket. Dont like it, dont invest and save money the old fashoned way.

This is why the Republican parties idea of tying social security to the stock market was such a AWFUL idea. Because investments are NOT guaranteed.

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Doug, Chapter 11 and other forms of bankruptcy grant unique powers to the company and other affiliated parties. While the bond holders are unfortunately out of luck, that's the way things go, unfortunately. Stock holders ALWAYS get wiped out - yet few people complain.

While bondholders are different than stockholders and of higher regard to the company, a company going bankrupt is always a risk when holding bonds, especially when holding bonds to a public company.

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falcon5768,

"actually open up a copy of the US constitution and read the section deal with bankrupcy"

You do realize that the Constitution does not deal with bankruptcy laws in any way right? All you will find under Article 1, Section 8, Clause 4 (Where bankruptcy is mentioned) is authorization for to Congress to set bankruptcy laws, not the laws themselves. The actual wording is "To establish a uniform rule of naturalization, and uniform laws on the subject of bankruptcies throughout the United States"

http://www.law.cornell.edu/constitution/constitution.articlei.html#section8, go to the third "To" down under section 8.

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Quit whining about the government. But for the government, these assholes would be long gone.

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READ WHAT A CHAPTER 11 LEGALLY ALLOWED THE GOVERNMENT TO DO.

The precedence has existed to do EXACTLY this for over 200 years. Its been DONE like this many times in that time. The ONLY PEOPLE who seem to forget this are the conservatives who found no problems doing the EXACT SAME THING for the shipping industry and boatbuilding industry during Bush's term.

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Oh shut up.

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