When I hear Ruth Bader Ginsburg's name in the lead of a judicial ruling, I usually brace for the worst. On Monday, I was pleasantly surprised. Justice Ginsburg issued a stay to delay the government-forced sale of Chrysler to Fiat. Of course, as he does with every issue, President Barry Vladimir Hussein Soetero Obama warned that the sky will fall in and crush us all if the same does not proceed immediately. President Obama may want to review the story of Chicken Little as even his doting press corps are no longer expressing alarm at his doomsday predictions.
Some shareholders are not happy with getting 29 cents on the dollar they will receive through the sale of the once-great Chrysler corporation. Who can blame them? Of course, Chairman Obama has total disdain for investors. He totally discounts the risks they take by calling them "speculators." Obama's rhetoric demonstrates the threat his ideology poses to the American economy. The good guys are unskilled workers and the government who both take little risk and reap great rewards. The bad guys are the people who finance companies. The bad guys are the people who run businesses.
Businesses and corporations have gone out of business and new ones have been created throughout our history. That is simply how the game is played. Bankruptcies, or even liquidations, are nothing to fear in the big picture. However, a President and a party so drunk on power and arrogance that they believe they possess the power to nationalize and run companies is a frightening development. Earlier this week, Venezuelan dictator Hugo Chavez joked that soon he and his buddy Fidel Castro may be sitting solidly to the right of President Obama. They may already be there.
Let's hope the Supreme Court will look at this unprecedented power grab by the federal government and give them a stern reminder of the principle of limited powers.
1 week ago