It was on this board a few months before the election someone talked about how smart then Candidate Hussein was and his keen legal mind, well now it appears that mind has figured laws don't apply to Democrats.

Quote:No matter what the law says, it’s hard to picture a three-judge appellate panel throwing itself into the path of a speeding train carrying the futures of Chrysler and General Motors Corp. and, with them, a segment of the ailing U.S. economy. However messy, derailment is what the law seems to demand. But that’s not what these judges are likely to order.

“Circumstances have conspired to force them to find a way to approve the sale,” says Daniel Glosband, a bankruptcy lawyer with Goodwin Procter in Boston.

The package the White House hammered together to convert big, old, dying Chrysler into a smaller, healthier car company looks a lot like a massive violation of bankruptcy law. A few dissident creditors, namely three Indiana pension funds that banded together, remain defiant enough to say so.

We can't let a pushy special interest group from a traditionally "RED" state trample the rights of others can we?

Quote:Their share is tiny, to be sure. Out of $6.9 billion in senior secured loans, the Indiana funds have $42 million. They paid 43 cents on the dollar, and would get roughly 29 cents after the sale.

The Gall

What galls them is that the United Auto Workers’ retiree health care trust fund, the most prominent of the unsecured creditors, would own 55 percent of the new company and get a $4.5 billion note for its $10.5 billion unsecured claim.

It's the UAW we have to understand they are ENTITLED to this. Rule of law be damned!!!

Chrysler Mows Down Debtholders' Claims in Court

Why would anyone loan to a marginally risky company even a secured loan based on this standard?!?