Friday, May 1, 2009

Chrysler "deal"

The Chrysler bankruptcy is morally bankrupt government middling in the auto industry.  How on earth the employees of Chrysler can OWN their company by being so overpaid and incompetant that the firm is forced into BANKRUPTCY is the question of the century.   I am sorely disappointed in the Obama administration, and the lack of justice in the American government.  Saving jobs at any cost to the investors of capital in this country (real American heroes) is a travesty that undermines the primary freedoms outlined in our Declaration of Independence.  

As justice Stephen Johnson Field said in the case of the Butcher's Union vs. Crescent City:
Among these inalienable rights, as proclaimed in that great document, is the right of men to pursue their happiness, by which is meant the right to pursue any lawful business or vocation, in any manner not inconsistent with the equal rights of others, which may increase their prosperity or develop their faculties, so as to give to them their highest enjoyment

Depriving bondholders, penion funds, hedge funds, and other investors of their right to pursue their business interests is injust and unAmerican.  Taking their legal claims to the assets of Chrysler and giving them to those most responsible for the failure of the company is disappointing and deplorable.  I hope that this is not a sign of what we will see in future government interventions.  

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