The Supreme Court has stepped in after investors complained about the (essentially) forced deal with Fiat. Reports MarketWatch:
The U.S. Supreme Court blocked the sale of Chrysler’s assets after a group of Indiana pension funds appealed the sale. The funds argued that the sale of Chrysler to Italian automaker Fiat is unconstitutional. A court spokesman said that the sale is stayed “pending further order of the court.”
I still wouldn’t be surprised if the Court doesn’t lift its stay after a hearing, but maybe the Constitution and rule of law aren’t completely dead. For the Court to block the administration plan would be a major blow.
Notice to Readers: The American Spectator and Spectator World are marks used by independent publishing companies that are not affiliated in any way. If you are looking for The Spectator World please click on the following link: https://thespectator.com/world.