OBAMA MUST FAIL.

Back when FDR was first in office and trying to save Capitalism from itself (and angry mobs of disgruntled unemployed citizens), a Republican dominated Supreme Court tried to block his actions. In response, FDR proposed expanding the size of the Supreme Court in order to help the "aged" Justices with their "workloads". An uproar ensued and that idea went nowhere. But, and this is critical, the Supremes got the picture and quit trying to obstruct him. Or, at least that's what I learned in school.

I wonder what (a) the court is going to ultimately do in this case, and (b) what Obama's response will be? It could make those 2008-2009 Dodge Hemi Challengers real collectors items.

What is the point of just posting inane, snarky comments? I was brought up on the principle of keeping your mouth shut until you have something of value to say. You should try it...

....that the TARP funds that are underwriting the whole plan were Congressionally authorized for use expressly for the financial industry, and that use of them for purposes other than that is, in fact, in violation of the Constitution.

I don't see any parallel between Chrysler and Filene's Basement. Both companies had employees who would lose their jobs if the assets were liquidated. So what? The employees at Filene's didn't have unsecured claims which were illegally given seniority over higher ranking claims. Is the point that Chrylser can't possibly operate without the UAW? Who's arguing that - Obama? Chrysler could remain in operation and reorganize as a competitive, non-union car company if someone would just provide the necessary DIP financing. Unfortunately, all of the nation's major banks are now controlled by the government so the union way is the only way. It's clear why this is happening but that doesn't make it right or legal. Ironically, now that we see that bankruptcy laws are subject to politics, the result is that U.S. corporations with large unions will be starved of private capital for decades to come.

Why don't you and "Aaron Bonn" and the rest of your Libertarian/Objectivist friends take a break and kick back by the pool and read "Atlas Shrugged" for the hundredth time? You've all worked so hard over the last thirty or so years to bring us to where we find ourselves today. You need a rest. Those of us who live in the real world will take it from here. If we need your help, we know where to reach you.

The Chrysler bankruptcy is a dress-rehearsal for the much-larger GM one, so when this Indiana diversion is cleared it will set the precedent that GM can sail through.

All sarcasm aside, you also fail to address that second point - that the Constitution authorizes Congress to allocate federal money, and that it is unconstitutional when the executive branch spends it in ways that it hasn't been authorized to.

P.S.: I have never read Atlas Shrugged. I'm a non-fiction guy.

...the Constitution authorizes Congress to allocate federal money, and that it is unconstitutional when the executive branch spends it in ways that it hasn't been authorized to.

I thought we sorted that out during the Bush regime. The constitution is "just a goddamn piece of paper", and the president can do whatever he damn well pleases in an emergency. An emergency is whatever the president says is an emergency.

Unfortunately, all of the nation's major banks are now controlled by the government so the union way is the only way.

You have it backwards. The banks control the government. We've been over this.

The whole point of this bankruptcy exercise is to destroy unionized corporations and replace them with corporations more willing and able to keep the proles in their place, meaning, on the floor with a hobnailed jackboot heel grinding away at various facial parts, an activity with a long and distinguished tradition.

The masters of the financial economy are presently implementing what they consider to be the greatest advancement in labor relations since the invention of the cat-'o-nine tails. They fully expect to achieve their goal of having worker drones prostrate and fighting over scraps in a matter of a few short years forthwith.

By the way. Adam Smith was clear in his assertion that labor unions were the only way that workers could compete effectively in a capitalist system, and that without worker collectives all but members of the ruling classes would ultimately be reduced to a Dickensian industrial serfdom. That's why the corporatists want to do away with them. They rather like that jackboot thing.

Smith's pet peeve was the rigging of markets by politically-connected transnational corporate interests, thus preventing anybody else from achieving any personal financial success. He wrote a book about it and explained it fairly well, given the circumstances. Possibly you were unaware of that.

Kiss the US auto industry goodbye, as well as 15% of the US economy. They were outsourcing everything anyway, so it's not as if they weren't going to bleed the country no matter how it went. Also kiss those billions in bailout money goodbye: the banksters have it now, and they're not sharing it with anybody.

"I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. . . . corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands ..."

Honest Abe knew saw what was happening and told it the way it was.

"... and the Republic is destroyed."

Oh, yeah. That too.

It is only a matter of time. Certain parties have no use for the US except as a base of military operations and as a corpse the bleed dry of its wealth. And they're running the show.

Don't take it personally. It's just business.

... the Constitution authorizes Congress to allocate federal money, and that it is unconstitutional when the executive branch spends it in ways that it hasn't been authorized to.

You're so naive.

The Constitution finally died during the Reagan administration after a long illness. The coroner determined that corporatism was the cause of death but no post-mortem has yet been taken seriously by the general population, which seems to believe that the Constitution is alive and well and secretly sharing a retirement estate with Elvis somewhere.

But the reality is that it's still where it was, as it lay dying, in a glass case in an argon atmosphere where it can be admired and mourned by the sentimental and not get in the way of business. Lenin has been doing much the same thing in Moscow for decades.

The president now decides which elements of the corporate oligarchic plutocracy gets it's way under the supervision of the Federal Reserve, which has taken up general management responsibilities and is answerable only to the corporate banking owners of the Bank of International Settlements in Basle, Switzerland. Congress any more is mostly a way to provide upscale employment for highly-qualified con artists while they train to sell out the country by becoming corporate lobbyists.

Congress gave over its Constitutional perogatives to the Executive a long time ago.

The Supreme Court said it was okay. They mumbled something about the law and then went home and kept drinking until it all seemed reasonable and could forget about the whole thing with a mostly clear conscience.

Transnational corporations are not managed by patriots. What would be the point?