A number of readers have e-mailed me, asking what I thought about the bankruptcy of Chrysler and General Motors, and the way in which the Administration is apparently trying to ride roughshod over the legal rights of bond-holders and other creditors in order to ensure that its political supporters (notably the United Auto Workers trade union) end up with the lion’s share of the spoils.
I’m frankly disgusted and sickened by the cavalier approach displayed by the Administration. I believe that in a number of respects, it’s prima facie illegal and unconstitutional. I hope and pray that the courts will strike down these aspects of proceedings . . . but I don’t know whether or not that’ll happen. If anyone thinks that politicians won’t try to influence or affect court rulings, they’re deluded.
I do, however, know what I’m going to do about it: and I hope and trust that all right-thinking, law-abiding Americans, of whatever political persuasion, will do the same.
I shall never again buy any new Chrysler or General Motors vehicle or other product, unless and until the issues raised by their bankruptcies have been resolved in accordance with the current (i.e. today’s) law of the land, and any and all benefits unjustly accruing or unfairly transferred to political stakeholders have been nullified and withdrawn forever.
That’s my answer. What’s yours?
Peter
My answer?
"Ford."
(Or Toyota; most of 'Yota's stuff sold here is American-made these days, anyway)
Toyota pick-up, full sized, and as soon as I've got a Real Job again, since the gov will probably make them illegal in the foreseeable future.
LittleRed1
I doubt the union brothers realize that Chairman Obambi has just put the kiss of death on Chrysler and Government Motors. There are plenty of us folks around who will now never buy their products. The only thing remaining to be seen is how much more of our hard-earned tax dollars Obambi & crew pour into that black hole before they finally pull the plug and liqudate those companies.
chicopanther
I agree, but I have been only buying used. I can't afford the loss you take driving off the lot.
I'm reminded that when Harry Truman tried to nationalize the railroads during the Korean War, the US Supreme Court declared such actions unconstitutional.
Today's SCOTUS hasn't the balls to do that.
On Monday, Jun 1, I made the same promise to myself and the world: I will never buy a GM (Government Motors) car or truck, Period!!
LG
Cavalier.. heh 🙂
Jim
I'll walk before I buy a GM or Chrysler product. A pox on them all.