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washingtonpost.com - 4/29/2009

Sources: Chrysler Bankruptcy Plan Would Oust CEO, Install Fiat Management

— washingtonpost.com — Comments that include profanity or personal attacks or other inappropriate comments or material will be removed from... the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. ... (more) Sources: Chrysler Bankruptcy Plan Would Oust CEO, ...

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online.wsj.com - 5/1/2009

Chrysler Goes to Court

— online.wsj.com — President Obama's broadside against bankers yesterday illustrates better than any argument ever could that bankruptcy court, and... not the political arena, is where Chrysler belongs. Yesterday's filing isn't the end of the U.S. auto industry, or even ... (more) Chrysler Goes to Court

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yglesias.thinkprogress.org - 4/30/2009

The Chrysler Deal

— yglesias.thinkprogress.org — Looks like Chrysler will wind up in a pre-packaged bankruptcy before becoming a firm jointly owned by... Fiat, the United Auto Workers, the United States of America, and Canada. The point of passing through bankruptcy courts is (a) to force a handful of holdout bondholders (mostly hedge funds, ... (more) The Chrysler Deal

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Kaus on the Chrysler Deal:
The Volokh Conspiracy — Chrysler + Fiat = Chooch! The rationale for the bailout was that a bankruptcy would kill car sales, so the government had to step in and negotiate all the bankruptcy-style concessions without actually having a bankruptcy. But Obama was unwilling to get the U.A.W. to make the bankruptcy-style concessions that would be necessary to have a viable Chrysler. . . And Chrysler wound up in bankruptcy anyway. Prediction: It will either fail or suck up continuing annual taxpayer subsidies in the billions. In the process it will keep flooding the market with cars and make it harder to save ...

MICKEY KAUS: Chrysler + Fiat = Chooch!…
Instapundit — MICKEY KAUS: Chrysler + Fiat = Chooch!

The Chrysler haircut
Overlawyered — Larry Ribstein has some pertinent comments about the rolling reinvention of debtor-creditor law going on as the Administration redistributes bankruptcy priorities away from traditional creditors and toward the UAW. And Mickey Kaus credits me with perhaps more prescience than I actually possess about the union role (not that I always venture the cynical prediction…)(cross-posted from Point of Law). More: Michael Barone. Tags: bankruptcy, Chrysler, debtor-creditor law, United Auto Workers Related posts September 1999 archives, part 1 (0) ...

Chrysler and the rule of law
neo-neocon — ... I agree with Mickey Kaus that what he refers to as “the screwing of the secure lenders” and “the strong-arming of the banks that received TARP funds” by the Obama administration are both dangerous precedents. ...

The Obama administration and the rule of law
neo-neocon — ... I agree with Mickey Kaus that what he refers to as “the screwing of the secure lenders” and “the strong-arming of the banks that received TARP funds” by the Obama administration are both dangerous precedents. ...

Violating the Rule of Law Without Violating Any Laws
Lawyers, Guns and Money — Todd Zywicki: The close relationship between the rule of law and the enforceability of contracts, especially credit contracts, was well understood by the Framers of the U.S. Constitution. A primary reason they wanted it was the desire to escape the economic chaos spawned by debtor-friendly state laws during the period of the Articles of Confederation. Hence the Contracts Clause of Article V of the Constitution [sic! Seriously, you think that the framers threw a restriction on state government's authority to impair the obligation of contracts...in the section dealing with constitutional amendments? Might you want to look that up?], which ...