Barack Obama's conduct in this affair has been disgraceful. Our bankruptcy laws are well developed and are fairly implemented by experienced bankruptcy judges. Priority among creditors is established according to legal rules and precedents. The process is transparent and subject to appellate review. But in this case, the law did not favor the parties who have the most influence with the White House--notably, the United Auto Workers--so Obama substituted political threats and bullying for due process. Il Duce would have approved.P.S. The National Socialism of Obamanomics. In contrast, the Aussie Way--an interview with former Prime Minister John Howard. Video at NRO. His future outlook here.
Friday, May 01, 2009
Il Duce would have approved
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