Friday, May 8, 2009

Chrysler Bankruptcy

The Beer: I plan to enter my Amarillo Pale Ale in a homebrew contest. I also expect to win

The Bicycle: Seems every year my legs take longer to recover. Maybe I just overdid it last weekend.


I suspect we have more of this type of government thuggery to look forward to.

Contracts and the Rule Of Law are the foundation of Liberty. Government determining winners and losers is tyranny. TCO, Dingell and Granholm have participated in the worst type of political posturing.

Last week Mr. Obama lambasted them as "a small group of speculators" who "endanger Chrysler's future by refusing to sacrifice like everyone else."

Rep. John Dingell, a Michigan Democrat, sent reporters a statement calling the creditors "vultures" and "rouge hedge funds." Michigan Gov. Jennifer Granholm piled on, taking aim during her radio address at a "few greedy hedge funds that didn't care how much pain the company's failure would have inflicted on families and communities everywhere."

After reading the list of Senior Creditors, I doubt any of the vilification is warranted.

So now the UAW owns Chrysler. This is a lesson in "be careful what you wish for".

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