Tuesday, June 09, 2009
The AP headline reads: "Supreme Court clears way for Chrysler's Fiat sale."
So, Fiat will acquire a controlling interest in Chrysler.
An appropriate expression might be, as they say in New Jersey (TigerHawk's state of residency): "You got a problem with that?"
I didn't expect the Supreme Court to step in on Chrysler, as I wrote about at too much length below ... some of you got me going ... and I don't know when to stop.
Not a lot should be read into the Supreme Court not stepping in. This is not Truman seizing the steel mills ... nor is the Supreme Court tacitly approving Obama's plan. The creditors aren't getting screwed here -- the taxpayers are.
Just because it's "legal", don't make it "good."
I've owned GM cars for most of my life, including my current SUV. But as a GM bondholder who just got screwed to pay back the UAW for their unilateral support of Democrats...you can be damn sure it is the last "GM" car I will ever own.
I ain't alone, either.
These boobs should look at the demographics of WHO buys cars frequently. By and large, I suspect it is "investment class" people....who have just been royally pissed off.