Today the US Supreme Court handed down a summary decision that basically said the government cannot take a troubled companies assets and apportion them among unsecured creditors, ignoring the claims of secured creditors. In other words, The US Government cannot take over Chrysler’s assets and give preference to UAW over its secured creditors.

Dr. Melissa Clouthier has a good summary:

SCOTUS Deals Socialism and Therefore, Obama, a Blow

Tags: scotus